This story was delivered to BI Intelligence Apps and Platforms Briefingsubscribers. To learn more and subscribe, please click here.Businesses and app publishers looking to save on the massive costs associated with app development should consider India, according to a study by Hyperlink Infosystem.On average, across both iOS and Android, an app that takes eight weeks to develop from beginning to end will cost roughly $48,000 in the US. That same app is 10x less expensive to develop in India, the study notes. Businesses based in other markets, like Europe, Australia, and New Zealand, could also reap significant cost savings by developing in India.The significant difference in cost of developing an app in the US versus India could be driving the projected uptick of developers in the country. Indias developer community is set to reach 4 million by 2018, making it the largest in the world, according to Google VP of Product Management Caesar Sengupta. As demand for apps increases, so too will the number of developers looking to carve out a space of the app market.Businesses, brands, and publishers would do well to take note of how different markets affect the cost of developing an app.Google and Apple are taking advantage of the great potential Indias developer community poses.An integral component of building up an app ecosystem within an emerging market is ensuring there's a pool of developers creating localized apps and software on devices that will appeal to domestic consumers. An efficient way to do this is by creating incubation hubs and developer centers that offer to teach local developers to build apps for the Android or iOS platforms.In July 2016, Google launched Android Skilling in India, a program aimed at training 2 million developers for the Android platform, according to Bloomberg.In May, Appleannouncedplans to open up a new iOS app Design and Development Accelerator in Bengaluru to provide additional and specialized support for local iOS developers. Bengaluru is an important market for smartphone companies looking to tap into Indias immense developer community.App developers long considered the "pay once and play" modelin which users pay up front an app and aren't prompted to make in-app purchasesthe best way to generate revenue. But as more "free-to-download" apps entered the market, users increasingly opted for these experiences.These apps offer microtransactions for in-app goods and services, and in-app ads.As the app ecosystem expands further, it will become increasingly challenging for developers to compete in a crowded market.Overall, global gross app revenuewill double to reach $102 billion by 2020, accordingto recent projections by App Annie.As a result, app monetization strategies need to shift at least as quickly as consumer trends and preferences in order for developers to capture a piece of this growing market.Laurie Beaver, research analyst for BI Intelligence, Business Insider's premium research service, has compiled a detailed report on app monetization that explores the top app monetization strategies under user- and advertising-paid approaches, and the growing combination of both. We will also look at emerging trends that could help developers navigate the fiercely competitive app ecosystem, and address the potential barriers that developers will have to overcome to reap the benefits of the multi-billion dollar market.Here are some of the key takeaways:The app ecosystem is expanding quickly, and it's becoming increasingly challenging for app developers to compete in a crowded market.To capture a piece of the growing market, app developers must adapt their strategies at least as quickly as consumer trends and preferences change.Developers can choose a user-paid or an advertising-paid approach to monetizing their apps. Different monetization strategies work best with different apps.There are a number of widespread challenges that developers must contend with both before and after they enter the app market.In full, the report:Provides key factors driving the expected growth of global app revenueEvaluates the top app monetization strategiesLooks at emerging trends to help developers navigate the app ecosystemExplains the challenges that developers face to compete in the app marketAnd much moreInterested in getting the full report' Here are twoways to access it:Subscribe to anAll-Accesspass to BI Intelligence and gain immediate access to this report and over 100 other expertly researched reports. As an added bonus, you'll also gain access to all future reports and daily newsletters to ensureyou stay ahead of the curve and benefit personally and professionally.START A MEMBERSHIPPurchase & download the full report fromour research store.Purchase & Download NowJoin the conversation about this story
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