Google Glass price and release date varies depending on who you ask, but many would agree that the AR lens will be unveiled by the tech giant for consumer release come 2014 and will be at a price point way lower than it’s $1,500.00 fee it charged developers and early adopters.

The next update of the Google Glass, which was promised to be a monthly activity since the gadget was announced will be its biggest yet and will inch the device closer for the broader consumer market.

Geek.com is reporting that the expected XE10 update, which will arrive around middle of October, will bring third-party app support to the glass platform. If the rumors on the new set of updates are true, the AR lens will support Glass apps, called Glassware. It will also have custom voice commands that can be initiated with ‘OK Glass’ menu as well as developers access to motion-tracking sensors.

According to Geek.com, Google has invited developers to Googleplex to work with the Glass team to create new Glassware apps for the device. Potential Glassware app developers are ask to sign a non-disclosure agreement with the Mountain View tech giant.

The monthly updates are intended to bring the Glass closer and closer to a consumer release. But even before it has even hit the markets, an analyst is predicting that the wearable gadget will be a gold mine for the tech giant.

According to Robert Peck of SunTrust Robinson Humphrey, as written in a report by Venture Beat, Google Glass could be worth $3.3 billion by 2017, most of which would come from the advertising revenue Google can earn with the AR lens.

The analyst said that even with that valuation, Google Glass only needs 650,000 wearers to reach that dollar mark. John Koetsier of Venture Beat said that given the interest of the masses on wearable technology, which Samsung is only fueling with a high-profile launch of its smart watch – Samsung Galaxy Gear, three years of Glass sales could exceed the number.

In a research by Forrester a few months ago, it discovered that 12 percent of the U.S. population or 21 million Americans are eager to wear Google Glass or a similar device on a daily basis. The result of the study prompted Sarah Rotman Epps of Forrester to say that “not since Apple’s iPhone debuted in 2007 has a computing device attract as much attention as Google Glass.”

“We have no doubt that in time, Glass will be the next iPhone,” Rotman added.

If that’s the case, the $3.3 billion prediction by Peck could easily be reached. Peck said that the potential ad revenue the search giant will earn from the Glass will come from local search ads as users search for restaurants or cafes, or play with the Google Field Trip app. The app was recently released for the AR lens. It helps Glass users discover local landmarks, galleries, tourist attractions, and more according to Venture Beat.