According to mobile research and consultancy firm research2guidance, 2011 saw application download revenues of $ 6.8 billion. Meanwhile, the market for mobile app development services reached $20.5 billion during the same period.

The recently released report found that most app project revenue comes from the fundamentals: concept creation, design and coding. Additional services like app libraries, white label solutions and multiplatform app development tools are growing in popularity but still don’t match the market share spent on the basics.

Prices to get the work done vary widely, with U.K. developers charging an average $626 per day while their competitors in India charge an average daily rate of $138.

That daily rate isn’t everything, however. “App development partners using price as the main criteria for selection will not be lead to an optimal solution as most of the price differences are offset by the additional time needed by offshore app developers,” research2guidance said.

Related links:

Report – “The Market for Mobile Application Development Services (2010-2015) – Selling the Spades to the App Gold Diggers”

research2guidance blog post –

Photo by Flickr user JD Hancock, used under Creative Commons license