Parking App Development Cost

It's the weekend, and you are all set to go on a grocery shopping binge. You drove all the way and reached a nearby shopping mall, beating the traffic. Parked your vehicle in a secure parking lot and went inside to tick all the items on your grocery list. After spending an hour or two inside the shopping mall and buying everything on the list, it is time to go home.

Filling the car boot space with grocery items, paying the parking fee, and beating the traffic by an inch, you have reached home within two to three hours. With ample time to do home chores or watch Netflix and chill.

All this is not a utopian dream, but a reality made possible with parking applications like ParkWhiz and SpotHero. Technology impacts and transforms businesses worldwide, irrespective of which business domain or field you belong to. And one such sector is the vehicle parking sector.

We at RisingMax Inc. have been designing and developing Android and iOS apps for our worldwide clientele. And assisting them to capture new business opportunities with feature-rich mobile applications securely. Leveraging our domain expertise and hands-on experience with cutting-edge technologies empowers us to deliver outstanding business applications. Schedule a free consultation call with our experts and discuss your parking application idea today!

People worldwide are taking advantage of Android or iPhone apps to find, book, and locate nearby parking spot locations. The popularity and usefulness of these smart vehicle parking applications attract budding entrepreneurs worldwide looking to capitalize on this business opportunity.

The ambiguous internet results about “parking app development cost” is why most budding entrepreneurs find it difficult to make a business decision. If you, too, are planning to build an Android or iOS app and are curious to know the parking app development cost, then this will answer all your cost-related questions.

Before delving deep into the cost aspect of the parking app, let’s discuss the market size and future market projections.

Parking App Market Size And Forecast

• The parking management market is expected to grow from $165.2 billion in 2023 to $407.9 billion by 2032, with a compound annual growth rate (CAGR) of 16.26%. (Market Research Future)
• The USA smart parking system market is projected to grow at a CAGR of 18.7% from 2023-2030. (Grand View Research)
• The global smart parking market is expected to grow at a CAGR of 18.2% and reach $4.1 billion US dollars by 2027. (PRNewswire)

Popular Parking Applications Available in the Market

Multiple apps are available in the Google Play Store and Apple Store to meet the ever-growing demand for parking spaces worldwide. Understanding target audience issues and integrating top-notch features assists them in offering hassle-free parking solutions to users in different geographic locations. Top names in the parking app market include the following;

• Best Parking
• Parkopedia
• Honk
• SpotAngels
• SpotHero

Parking App Development Cost Based On Application Type

The diverse parking needs of users resulted in the development of different types of parking applications. These different types of parking applications target specific needs and have their own benefits. Based on the business model, you can invest in parking app development and cater to target audiences.

Let’s understand different types of parking applications and discuss the associated development costs.

Local Parking Application

These types of applications provide parking solutions for users in a particular area or location. The application has most of the parking spaces in a particular area and often provides parking solutions to local commuters visiting shopping malls, hospitals, offices, and apartments nearby. Integrated with essential features, the local parking application is a perfect business solution to test the waters and later expand to other locations.

Global Parking Solutions

These types of applications provide parking services to customers in different locations worldwide. Engaging in business partnerships with multiple parking space providers in different geographies gives them an edge over others. These types of parking apps target users who frequently travel and search for parking spaces in different locations. Easy payment options, multiple parking locations, and advance booking facilities are key features the app's target audience seeks. 

Sharing Parking App

As the name suggests, the sharing parking application targets areas such as offices, hotels, restaurants, complexes, etc. These apps are integrated with features that instantly notify users about empty or half-filled parking spaces. Users can book parking on an hourly basis and even reserve a parking space on a monthly basis. 

Parking Time App

This type of parking app is a combination of the above-mentioned applications. Users can take advantage of these applications to book parking spots in a specific country or destination at a particular time. Users can check available parking spaces and book them in advance hourly or daily based on their travel plans.

Note: The cost mentioned in the table is estimated for the parking app with basic features and functionality. The development cost might increase based on the project's complexity, features required, and customization needs.

Also Read: Mobile App Development Companies In Germany

Parking App Development Cost Breakdown

The parking app development cost ranges between $15,000 to $45,000. Further, the cost might increase by $10,000 - $15,000 based on cost-driving factors such as project complexity, application platform, features, and more.

The table below provides a cost breakdown based on different app development stages. Irrespective of the project development cost, you can see the percentage contribution of different development stages.

From the above cost breakdown, you can clearly see the development and testing stage dominates app development cost. For someone planning to build an affordable parking app, finding an app development company that charges a nominal development and testing fee reduces the overall project cost. 

Next, we will discuss various factors that directly impact the development costs of parking applications.

Factors Affecting Parking App Development Cost

Similar to any app or software development, multiple factors impact the app development cost. App development companies worldwide carefully evaluate the prominent factors before sharing a development quote. To better understand, we have listed the prominent factors that impact the overall development cost.

Project Complexity

Most mobile app development companies evaluate app costs based on project complexity and size. For this very reason, the development cost of a local parking application is relatively low compared to the global parking application. Moreover, a complex parking app requires more time and resources, thus increasing the development cost two to three times higher than a basic application.

Development Company’s Location

The location of the parking app development company directly impacts overall project costs. This is mainly due to the difference in the per-hour cost charged by application developers worldwide. Remember that the higher development cost doesn’t necessarily indicate the standard and quality of the parking app. 

Here’s a table depicting the per-hour cost of hiring app developers/companies in different parts of the world.

Parking App’s Platform

If you plan to develop a parking application, then iOS and Android are the popular platforms you can target. The associated complexities and standards related to an iOS ecosystem result in higher development costs than the Android application. Moreover, you must hire separate react native developers for Android or iOS applications, thus increasing the project cost.

If you plan to target the iOS and Android market, hiring a cross-platform app development team becomes more feasible and economical.

Third-Party Integration

Integrating third-party APIs in a mobile application or software directly impacts the overall development cost. Mobile app developers must integrate these APIs and ensure that they work as intended, thus increasing the development time and cost.

Development Team Size

Building an outstanding application is not a one-man task. You need a dedicated app developer team working together towards a single goal of developing a user-centric parking application like SpotHero. Straightforward, the higher the number of professionals in the teams, the higher the development cost, and vice versa.

Why Choose RisingMax Inc.?

Our dedicated team of mobile app developers has been designing and developing Android and iOS apps for our worldwide clientele. We have successfully built over 1000+ mobile applications for our clients in different business domains. Combining our extensive domain knowledge and hands-on experience with cutting-edge technologies like AI, ML & blockchain enables us to deliver tailored app solutions.

Here’s why we are the perfect app development partner;

• Unmatched app development services.
• Proven domain experience.
• Innovative app solutions.
• No hidden cost policy.
• Unparalleled development expertise
• Agile development approach.
• Flexible engagement models.
• Affordable post-deployment services

So, why wait?

Give wings to your parking app idea and become a strong competitor in a potential billion-dollar industry with a feature-rich application. Connect with our app development team and discuss your parking app idea today.