Yerba Buena Center on March 7: Apple set to unveil iPad3 in an invite-only event

Apple's iPad 3 unveiling is likely looming at its scheduled an invite-only event on March 7 at the Yerba Buena Center for the Arts in San Francisco, which has caused the rumor mill to kick into its highest gear.

Yerba Buena Center on March 7: Apple set to unveil iPad3 in an invite-only event

Yerba Buena Center is the same venue Apple used to uncover the earlier two models of iPad. Apple, has sent the invitation to reporters by e-mail on Tuesday, without disclosing the details of the event, but just said that “we have something you really have to see. And touch.” The invitation also featured a partial picture of a device resembling the iPad.

Although everyone is waiting for something vigorously dubbed as ‘iPad 3’ but it is also rumored that the new model of iPad could be unveiled with another name.

Apple iPad tablet sales doubled in the December quarter to 15.43 million units from a year earlier. The company has sold about 55 million iPads since it introduced the device in 2010.

Although the iPad has managed to dominate the consumer tablet market since its inception, but experts say it will face stiff competition in 2012. The first challenge is likely to come from Microsoft, which aims to give tough time to Apple with Windows 8 on tablets. Windows 8 features an interface optimized for touch input and due at the end of current year.

Amazon’s Kindle Fire, which sells at half the cost of an iPad, has chipped away at the lower end of the tablet market and still promises to repeat it in 2012.

In addition, Google and its own manufacturing partners show no signs of dwindling their joint pursuit to make Android a tablet player, despite the weak performance of many supposed “iPad killers” that hit the marketplace in 2011.