Ever thought you could see a T-Rex stomp through your living room? (Maybe not literally!) Or imagine practicing surgery from the comfort of your couch? That's the magic of Augmented Reality (AR) and Virtual Reality (VR), two technologies that are no longer just science fiction. They're changing the game in 2024, and it's exciting! But with all the buzz, what's the real difference?

AR vs. VR: The Analogy Showdown!

Think of AR and VR like spices in cooking. They both add something extra to the experience but in very different ways.

• AR is like adding a pinch of seasoning: Imagine your world is a delicious bowl of pasta. AR is like sprinkling some grated parmesan cheese on top. It enhances the flavor of the existing dish (the real world) by adding a new element (the digital overlay). You can still taste the original pasta, but the overall experience is richer and more visually interesting.

An AR app showing you how that new couch would look in your living room is a perfect example. The couch (digital overlay) adds to the existing reality (your living room) without completely changing it.

• VR is like creating a whole new dish: Now, picture yourself putting on a VR headset. It's like diving headfirst into a steaming pot of Thai curry! You're no longer in your kitchen (the real world); you're transported to a completely different culinary experience. The sights, smells, and even the heat might feel real, but it's a carefully constructed virtual world.

Imagine yourself training to be a surgeon. A VR headset can put you in a simulated operating room with a virtual patient. It's a whole new reality designed for learning and practicing complex procedures.

Why it Matters:

Understanding the difference between AR and VR is like understanding the difference between your favorite spices. The right tool for the job can elevate an experience to a whole new level.

Jabil's survey shows that 51% haven't even started developing an initial plan. Out of those with AR/VR plans or investments, 99% say their plans are flexible to change with the market.

Almost 90% of companies already expect vendors to help meet AR/VR requirements—from developing plans to full manufacturing capabilities. By leveraging outside talent and virtual and augmented reality technology, companies can focus on their core strengths while also delivering an out-of-this-world, immersive experience.

The Future's Looking Bright (and Maybe a Little Virtual!)

The AR & VR market is projected to generate revenue of US$40.4 billion in 2024. This market is expected to grow at an annual rate of 8.97% (CAGR 2024-2029), resulting in a projected market volume of US$62.0 billion by 2029. The largest market segment within AR & VR market is AR Software, which is expected to reach a market volume of US$13.0 billion in 2024. In the world, the number of AR & VR market users is expected to reach 3,728.0m users by 2029(check out the full research here).

Given the volatility of the AR/VR market thus far, some companies may be waiting to act. To successfully conquer the challenges involved with building out augmented and virtual reality technologies while keeping up with market expectations and time-to-market, companies may want to consider partnering with experienced vendors who can provide end-to-end product development with comprehensive engineering capabilities.

Think lighter, comfier VR headsets and stylish AR glasses that look more like sunglasses and less like something out of a sci-fi movie. Plus, the rise of Artificial Intelligence (AI) and the Metaverse (a shared virtual world) will further blur the lines between the physical and digital. You can learn more about the Metaverse here: Metaverse explained

thob: Innovating at the Forefront

Here at thob, we're passionate about exploring the potential of AR and VR. We're not just talking the talk, we're walking the walk. Read through our list of other blogs, where we dive deep into the latest advancements and how these technologies are changing the world.

AR and VR: It's More Than Just Hype

These technologies aren't just about flashy games or gimmicky experiences. They're changing the way we learn, work, and play in 2024. Whether it's making education more engaging, streamlining industrial processes, or creating mind-blowing entertainment, AR and VR are here to stay.

So, buckle up! The future is looking bright (and maybe a little virtual) and we're excited to see where it takes us. Stay tuned for future posts where we'll explore specific AR and VR applications and show you how they can benefit YOU!