Is mobile app development still profitable? Yes and here’s why!

There are about 2 million mobile apps on the App Store and 2.2 million apps on the Play Store and some alarming statistics show that only 25% of downloaded apps are used once every six months.

Too many, too right, too lost

To highlight the irony of the many apps available in the various app stores, an advertising campaign created a slogan: “there’s an app for that”. There was a phase until very recently where the productivity and popularity of any platform was defined by the number of mobile apps available in its marketplace. This had led to Microsoft’s marketing strategy to attract more mobile app developers for its Windows Phone platform so that it could quickly reach the 1 million mark! BlackBerry lost the race due to its hesitation to blend in with the crowd and although it made a valiant attempt to save the day by making its immensely popular BlackBerry Messenger available on both Android and iOS platforms, the app lost its charm on its face. from the huge crowd of WhatsApp followers.

The application of the fatigue factor

The problem with any new phenomenon is that people go overboard, so for every 50 new apps that are released on the app store, one might be successful. As of May 2015, more than 54,000 apps were submitted for launch on the iOS App Store. However, not all applications have features or functionality that attract the user’s interest. Smart devices are also becoming sophisticated with built-in technologies like NFC, high-resolution front and rear cameras, smart device integration, and more. Therefore, consumer expectations are also experiencing great sophistication and it is imperative that mobile applications adapt to these growing expectations.

For example, iOS 10 will come with HomeKit, which opens up a wide avenue for home-based iBeacon apps to maneuver various home appliances. As in the case of all products, only an application that adds value to the user’s life survives the brutal competition. A good quality app with a fresh outlook and new features will do well and gain ground. The value can be entertainment, novelty, create a need where there was none, give a logical use to new technologies, among other things. Industry experts, mobile app developers, and app development companies reiterate that the quality and value of apps remain the primary factor for success. Any new application that does not exceed the threshold is bound to fail.

Adequate and appropriate characteristics

Regardless of how many features an app may have, only a few are used regularly, while some are not used at all. Many features simply cause information overload, or what might better be called “white noise.” In the same way that people treat TV commercials as a break to complete some task; the unused feature has the same state where it is seen as an aspect of the application that can be ignored. A smart way to treat features and engage users through them would be to release them as part of an update.

Especially in the case of social networking applications, industry experts believe that application developers should analyze what is critical and re-examine the effective use of mobile devices before integrating new features. A new company, HI-FI, launched an application that studies application fatigue and analyzes the disappointment trend of social networks. The app will help identify unnecessary features and add information to help users set up their own personalized menus based on their interests. This will help users save time with a user-friendly interface. The app will play the role of a universal remote control, the manufacturers claim, and has already attracted many takers in the market.

Where is the profitability?

Mobile app development remains a profitable avenue because the future will be driven by apps and mobility. The cost of mobile app development ranged from $37,913 to $171,450. However, this amount has been drastically reduced to US$150 in North America and the lowest is US$26 for an Indian developer. In addition to competition, even evolving technologies have helped drastically alter the cost of development. Cross-platform app development platforms like PhoneGap, AngularJS, and Ionic have facilitated a further reduction in app development time and costs.

The profitability lies not only in the reduction of production costs, but also in the number of people adopting smartphones. Right now, gaming is still the most popular category, but eCommerce and business solutions are also benefiting a lot from mobile apps.

Mobile strategy is a central aspect of the business marketing strategy of leading companies and SMEs, as it is recognized as central to reaching target customers with the most concise messages from the road where they can be easily accessed on a personal level. Therefore, in the long run, mobile app development will continue to be a profitable avenue.