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The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.
NEW YORK (
Google(GOOG) has finally begun testing its highly awaited, futuristic technology -- augmented-reality enabled glasses -- which would enable users to view information on a display which sits above the eye.
Google's glasses would be wirelessly connected to the Internet, be powered by the Android platform and enable the user to interact using voice commands and eye gestures by tracking eye movements. It would also offer a camera to record video and capture images, and provide an overlay of data to augment the user's view with additional information.
Although not many details about "Project Glass" have been revealed yet, it could potentially be the default way in which users interact digitally with the physical world around them in the coming years.
Check out our complete analysis of Google.
Most of the functionality in the initial prototypes would be powered by smartphones paired with the glasses, but they could eventually become more advanced and even evolve into a contact lens with embedded electronics which can display images directly to a user's eye. While it may seem like a gimmicky, sci-fi experiment right now, it could become the next revolutionary consumer electronics device after smartphones, which were a novelty just 10 years ago, but are now ubiquitous. Google could probably offer advanced search capabilities through the use of augmented reality on Google Glasses, and monetize it using advertising -- what it does best.
We don't expect it to impact Google's revenues in any significant manner in the next couple of years, but in the next decade, who knows? Advertising on mobile, a relatively new medium, now accounts for over a third of Google's overall value. This could potentially be its next big revenue driver.
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$670 Trefis price estimate for Google,
which stands 4% above its market price.
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