NAPLES, Fla., June 20, 2023 (GLOBE NEWSWIRE) -- Intetics, a leading global technology company, sheds light on the primary factors that determine the costs of custom software development. With the global custom software development market projected to reach a staggering $812 billion by 2027 according to Statista, businesses across industries are seeking to leverage software solutions to stay competitive and drive innovation.
Understanding the cost of custom software development is crucial for accurate budget planning. Intetics highlights several key elements that directly impact software development costs, including project complexity, geographic location, team composition, platforms used, hiring models employed, and UI/UX design complexity. By comprehending these factors, companies can obtain top-notch software products without incurring exorbitant expenses.
While there is no one-size-fits-all answer to the question of how much custom software development costs, Intetics provides insights into average cost ranges based on project requirements and specifications. For instance, a simple app with low user interaction and backend processing can cost between $20,000 and $500,000, with a development time of approximately 600-700 hours. On the other hand, a multi-platform app with extensive server-side applications may have a six-figure price tag.
The average custom software development cost, as indicated by industry percentiles, is around $36,000. However, the company suggests evaluating this price tag in the context of the company’s size and desired product type:
- Startups: With limited budgets, startups prioritize launching products quickly to build reputation. For them, a custom software solution priced above $45,000 may be unaffordable, especially when developing a Minimum Viable Product (MVP).
- Small and medium enterprises (SMEs): SMEs focus on streamlining operations and can afford more expensive software products. The average cost of custom software development for SMEs can reach up to $100,000, requiring up to 2,000 hours (about 2 and a half months) to complete.
- Enterprises: Established companies with large workforces and strict compliance requirements invest heavily in custom software development. The contract cost per hour for enterprise projects can average $50, with total project costs reaching up to $500,000 and an average delivery time of six months.
Additionally, the type of software project plays a significant role in determining custom software development costs:
- Customer Management System (CMS): $10,000 to $50,000.
- Enterprise Resource Planning (ERP) platform: $150,000 to $750,000.
- Healthcare app: $10,000 to $500,000.
- Software as a Service (SaaS) product: $50,000 to $200,000.
- Mobile app: $10,000 to $200,000.
With insights into the cost factors associated with custom software development, businesses are enabled to make informed decisions when planning their software projects and budgeting accordingly. More information about the topic and nine key custom software development cost factors are available at intetics.com.
About Intetics
Intetics Inc. is a leading global technology company providing custom software application development, distributed professional teams' creation, software product quality assessment, and “all-things-digital” solutions built with SMAC, RPA, AI/ML, IoT, blockchain, and GIS/UAV/LBS technologies.
Based on proprietary pioneering business models of Offshore Dedicated Team® and Remote In-Sourcing®, an advanced Technical Debt Reduction Platform (TETRA™), and measurable SLAs for software engineering, Intetics helps innovative organizations capitalize on global talent with our in-depth engineering expertise based on our Predictive Software Engineering framework.
Intetics' core strength lies in the design of software products in conditions of incomplete specifications. We have extensive industry expertise in Education, Healthcare, Logistics, Life Sciences, Finance, Insurance, Communications, and custom ERP, CRM, Intelligent Automation, and Geospatial solutions.
Our advanced software engineering background and outstanding quality management platform, along with an unparalleled methodology for talent acquisition, team building, and talent retention, guarantee that our clients receive exceptional results for their projects. At Intetics, our outcomes do not just meet clients' expectations, they have been exceeding them for a quarter of a century.
Intetics operates from multiple offices in many countries including the USA (headquarters Naples, FL), UK, Germany, Poland, Ukraine, Belarus, Moldova, Georgia, Armenia, Turkey, and others, hiring the best talent available worldwide.
Intetics is ISO 9001 (quality) and ISO 27001 (security) certified and a Microsoft Gold, Amazon, and UiPath partner. The company’s innovation and growth achievements are reflected in winning prestigious titles and awards, including Inc5000, Software 500, CRN 100, American Business, Deloitte Fast 50, European IT Excellence, Best European BPO, Stevie People’s Choice, Clutch, and ACQ5 Awards, and inclusion into IAOP Best Global Outsourcing 100 list.
You can find more information at https://intetics.com
