Apple's market-dominating iPad could soon don the number 3. The rumor mill is churning about an iPad 3 release in March even as competitors continue scrambling to find a way to turn consumer heads with Android-powered tablets.

Apple could not immediately be reached for comment, and is known not to comment on rumors. But Bloomberg is citing people familiar with the product -- and they are offering details on the look and feel of the next generation iPad.

Specifically, Bloomberg reports that the iPad 3 will offer a high-definition screen, and have a faster processor, a larger battery, and work with the LTE, or 4G, networks. The tablet reportedly uses a quad-core chip, which sets the stage for users to jump between applications more quickly.

The LTE Factor

"There have been so many iPad 3 rumors, but it's logical to assume these types of upgrades," said Zeus Kerravala, principal analyst at ZK Research. "The iPad 2 had a faster processor so the question is what can Apple really add to the iPad 3 to give it another leap forward? I think LTE has to be a part of it. LTE would allow a different set of applications by enabling network speeds that are comparable with local storage."

As Kerravala sees it, LTE would facilitate Apple's iCloud service. iCloud is a set of free cloud services, including iTunes in the Cloud, Photo Stream and Documents in the Cloud, that works with the iPhone, iPad, iPod touch, Mac or PC to automatically and wirelessly store content in iCloud and push it to a consumer's devices. When content changes on one device, all of a consumer's other devices are updated automatically and wirelessly.

"Apple is trying to make iCloud the place people go to store all their applications and content," Kerravala said. "So to me LTE makes a whole lot of sense as part of the iPad 3, along with the high-resolution screen, faster rendering, and better games. With LTE, iPad 3 users could leverage iCloud -- and that would help promote the concept of the all-Apple buyer. This is very consistent with what Apple has done with iPhone."

Introducing Siri

Kerravala also suspects Apple will put Siri on the iPad 3. Siri is an intelligent assistant that helps consumers get things done just by asking questions, like, "Will I need an umbrella this weekend?" Siri understands the speaker is looking for a weather forecast. Kerravala said the big weakness on tablets is the input mechanism, which is a virtual keyboard on the screen. Siri would help Apple overcome that.

"I think the tablet market will play out a lot like the MP3 player market where there will be lots of competitors. The only way somebody can gain ground on Apple is if they slip up, and Apple doesn't seem to have any intention of ceding the tablet market," Kerravala said. "Apple has a big enough lead now that I think their 90-plus percent share is secure. As long as they don't totally screw up with iPad 3 I don't see them losing any share."

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