Virtual reality (VR) connects the real world with a parallel digital universe. Thanks to the supreme technologies it uses, VR can successfully simulate real-life sensory experiences, including sight, hearing, touch, or even smell and taste.
VR is currently one of the fastest-growing markets whose worth continuously increases. Marketers' predictions support this claim: the global VR market was worth 12 billion in 2022.
Many businesses want to include VR/AR technology in their web or mobile apps, which raises the inevitable question: how much does virtual reality development cost?
This article will introduce you to virtual reality app development cost and charging plans. Keep reading to make an informed decision about your future investment in VR development.
Table of Contents
- What Factors Affect Virtual Reality Development Cost?
- Virtual Reality Apps’ Areas of Application
- Virtual Reality App Development Stages
- Virtual Reality App Development Cost: Lowest to Highest
- Does Virtual Reality App Development Pay Off?
- Top VR & AR Companies that Offer the Best Value for Money
- Virtual Reality Development Cost: Final Thoughts
What Factors Affect Virtual Reality Development Cost?
Specifying the total virtual reality development cost would be challenging without considering the main factors that affect the app price. Let’s analyze them:
1. Virtual Reality Development Company
The unwritten rule is that the reputation of the agency you choose affects its price list. The more famous and reputable the company, the higher the prices. Renowned VR-developing firms hire experts who produce high-quality solutions following clients' demands.
If you cannot afford top VR developers, look for an alternative — many VR developers are relatively unknown, but their portfolios are full of unique, high-quality creations.
2. Developer’s Location
Another rule of thumb is that VR experts from developed countries have significantly higher prices than their colleagues from Eastern Europe and Asia.
The difference is understandable, considering the living standard created by the geographical location and socio-economic conditions.
Although hiring an American VR developer can be pricey, you can ensure that you and the developer have the same goals and expectations for the VR project.
You can also locate VR developers with outstanding work experience from other countries for significantly less money. However, they might not understand the particular market requirements where you will present your software.
3. Complexity of the Virtual Reality App
Apps complexity determines the time needed for its development, another factor influencing virtual reality app development cost.
The complexity of VR applications can be roughly divided into three categories (with many subcategories in between):
- Simple VR app creation takes weeks, usually three to five.
- Medium-complexity VR app development takes four to six months.
- High-complexity VR apps can require a year to develop — or even more!
4. Virtual Reality Supporting Platform
The app you’re developing should support all VR-prioritized platforms, like Gohar VR, Oculus Rift, HTC Vive and Google Cardboard, but also iOS, Android and Samsung Gear VR.
Compatibility with all platforms would be a practical solution because it would generate many users, regardless of their preferences in VR platforms. However, remember that this factor increases the cost of virtual reality app development.
5. Pricing Method
There are several pricing methods you can consider:
Fixed-price
Fixed price is a suitable option for simple apps or if you know exactly what features your app should have.
However, if you change your mind during the developer's work and want to add some elements, you may not be able to because the price binds you.
If you decide to create an ultra-complex VR app that requires a year or more to develop, fixed price limitations can be a problem. Your competition can easily outdo you and come out with a more advanced product than yours.
Specification-based Charge
VR developers can charge you according to the app specifications — the features and platforms it supports. It is impossible to predict the final price with this billing model, but it provides flexibility to improve your project according to market demands.
Time-based Wage
A time-based wage could be the best charging method — it gives you flexibility while encouraging developers to concentrate on quality without rushing to finish your project as soon as possible.
Virtual Reality Apps’ Areas of Application
Using advanced technologies, VR development companies create a stunning digital 3D world that can completely resemble reality or be imaginary.
Sophisticated devices, such as headsets — whose sales raised to 14.19 million in 2022 — haptic gloves or even full-body haptic suits enable users to participate in a virtual environment and experience vivid sensations.
One of the earliest sectors that sought VR app development was the entertainment industry, which continues to be one of its best uses today.
However, VR application includes more than just online gaming. Healthcare, education, architecture, eCommerce, digital marketing, the hotel industry and the traveling sector base many of their services on virtual reality apps.
Here are the percentages of VR apps representation in various industries:
- Gaming — 61%
- Healthcare — 41%
- Education — 41%
- Automotive and manufacturing — 23%
- TV and movie industry — 21%
- Marketing and advertising — 16%
Professionally developed VR apps provide a unique user experience and increase engagement, allowing customers more efficient time and finance management.
Presenting your offerings in virtual reality gives users a chance to make sure they’re making a worthwhile investment, which builds brand image and encourages customer loyalty.
All in all, going a mile further and providing users with VR experience in mobile and web apps results in high profitability — and that’s something businesses of all kinds aim to.
Virtual Reality App Development Stages
VR app development process takes place in the following stages (roughly described):
- Even though you have an initial idea, the VR developer researches the market to assess the requirements and the competition. Having complete information, the developer determines the right solution for your brand.
- After establishing the work plan, the developer starts prototyping -— creating an outline of your app's features and all the specifications of your app.
- When the outline is definitive, the developer can start coding. Coding duration depends on the app’s complexity.
- The final stage is testing the VR application before launching it on the market.
Virtual Reality App Development Cost: Lowest to Highest
In the US market, developing a VR app costs on average from $50 to $250 — depending on the VR specialist’s experience and the complexity of your requirements:
- Simple VR applications with the shortest development time cost between $3,000 and $9,000.
- More complex applications, such as eCommerce stores where you can virtually try on clothes or furniture before purchasing, can cost between $10,000 and $30,000.
- Complex apps and games with complex obstacles cost $30,000 to $85,000.
- The most complex applications require the longest development time and can cost from $90,000 to $150,000.
Please note that the prices are indicative and may vary significantly depending on the abovementioned factors.
Does Virtual Reality App Development Pay Off?
You can monetize a VR app in two ways:
- Find advertisers who will use your VR app as an advertising space.
- Offer basic functionality for free with the option of in-app purchases or a monthly or yearly subscription for premium features.
Estimations say that by 2027 the global VR market will grow to $26.9 billion. Your VR app could be a part of this promising statistic, too.
Top VR & AR Companies that Offer the Best Value for Money
1. Lucid Reality Labs
- Location: 276 NE 60th St, Miami, Florida 33137, United States
- Average Hourly Rate: Inquire
- Expertise: VR/AR, Software Development, Healthcare Software Development, 3D Animation…
Lucid Reality Labs is an immersive technology service company specializing in XR training and simulations for the healthcare, MedTech and pharma industries.
The agency offers a range of solutions, including virtual reality, augmented reality, mixed reality and metaverse solutions, designed to improve training, education and collaboration in a variety of scenarios. Lucid Reality Labs also provides R&D enterprise solutions, which help private and public sector clients explore and utilize spatial computing opportunities for their businesses.
Their clients include Novo Nordisk, L'Oréal, P&G and Harvard Business School.
2. CXR
- Location: 276 Greenpoint Ave BLDG 8, 2nd FL, Brooklyn, New York 11222, United States
- Average Hourly Rate: $100/hr
- Expertise: VR/AR and IT Services.
CXR is a cutting-edge agency that specializes in mixed reality experiences. They offer complete custom experiences as well as existing frameworks for brands to use.
CXR's mission is to change the way people interact with brands through augmented and virtual reality. This new standard of engagement will strengthen bonds between businesses and consumers.
CXR is based in Brooklyn, New York, and was founded in 2020. Its client list is extensive and highly impressive, including the likes of HBO Max, Harvard Medtech, Montblanc, Live Nation, and 19th & Park.
Virtual Reality Development Cost: Final Thoughts
There isn't a single approach that works for all virtual reality app development scenarios.
You should consider many factors when developing software as complex as a VR app. Still, one thing is certain — the virtual reality development cost will rise as the project's complexity rises.
However, virtual reality apps are highly profitable for enterprises of all sizes, demonstrating that the expense of creation is a nominal price compared to enhanced ROI.
