An idea of the amount of money you can earn through your app.

Mobile App Development , Posted by on 2019/03/14 0     Comments
Earn-money-from-app

There are many apps in the market, in fact numerous. Also there is a huge amount of money riding on these apps which in fact goes into millions of dollars. The crux of the situation being that money is actually made by a small portion of these apps whereas there are many apps which make no money at all. So, before embarking on the journey of developing an app it is better to know things in details so that you can earn through your app.

Chosen platform for your app development:

The most important factor to be taken into consideration if you want to earn through your app is to choose an appropriate platform which you can leverage for app building. The leading platform at the moment is Android because of its reach of penetration which is closely followed by Apple’s iOS platform as can be seen from the following graphic (Source). As BlackBerry and Windows mobile have just not made it to that level, so from an app preparation point of view they are not going to be very good choices. So, it is advisable to either stick to Android or iOS.

Revenue generation possible through apps:

You can have an idea of the enormity of the app business just by having a look at this graphic where it clearly mentions that worldwide mobile app revenues in 2020 is scheduled to touch $188.9 billion. The majority of the top money making apps are in fact gaming apps. Just to give you a perspective on things, Pokemon Go made $890 million in 2017.

A simple way by which you can target revenue for your app is by making in-app purchases. The global revenue obtained from in-app purchase is much higher as compared to paid app downloads, which is the reason for which most game apps are free to download.
Have a read at this blogpost which has a breakdown on how to make a successful game app. It just may be that you end up making a successful gaming app and you can even earn through your app.

You can also earn money by using any of the following possible ways:

  • Sponsorship
  • Advertisements
  • Push-notifications
  • Freemium upsell
  • Email marketing
  • SMS marketing
  • Affiliate links
  • Partnership with other successful apps
  • Virtual currency
  • Having multiple options for payment

Popular categories of money making apps.

  • Shopping apps
  • IoT applications
  • Fitness and health apps
  • Travel apps
  • Personalisation apps
  • Mobile version of newspapers / magazines
  • Social media apps

Conclusion:

As you have seen there are plenty of opportunities which exist in the world of app development and you will have enough scope to earn through your app, provided you hit the right notes. Additionally, the world of app development is going to witness an exponential rise in terms of revenue and number of apps developed. Also, the area of smart TVs and smartwatches will be the ground which shall serve as the fertile area of app development in the future.

Well, you do have a fair idea of the field of app development and also what it would take for you so that you can earn through your app. There is a silver lining here. We, at Vyrazu Labs have been at the forefront of app development covering both the areas of Android and iPhone. So, we can help you create your dream app, all you have to do is to get in touch with us FOR A FREE CONSULTATION.

Please feel free to drop your comments and feedback as it helps in improving the quality of this interaction between us and serves as a guideline for further improvement.