Google Glass price and video demo: According to a Forrester study released last Summer, 12 percent of the U.S. population or up to 21.6 million Americans are eager to wear the Google Glass or a similar device on a daily basis.

“Not since Apple’s iPhone debuted in 2007 has a computing device attract as much attention as Google Glass,” wrote Forrester analyst Sarah Rotman Epps in the report.

In a recent study by Marketing Land, it noted that a $500 price tag for the Google Glass will make the AR lens a mainstream product. Many speculate that the Glass will be available for consumer purchase by 2014 and that up to one million units could be sold.

A report by Business Insider (BI) Analyst predicts that Glass will sell 18 million units by 2018 if the device sells by around $500. The report also noted that it could bring $10.5 billion in annual revenue to Google by 2018.

“Despite the clunkiness and awkwardness of the early beta version of Glass, we think computerized glasses will establish themselves in certain professional niches and gradually become a mainstream product,” the report by Business Insider says.

“Early adopters will use them for medical training, scientific exploration, and photography. They in turn will popularize Glass and other smart eyewear among wider populations still unsure about the appeal.”

In the past few months since Google launched the Explorers program, the device has been applied on a range of situations. Philips announcement that it will consider Glass as a device for operating rooms has been one of the most significant to date.

In terms of revenue stream, many are expecting Google to earn from advertising for the device. App developers are also gung-ho in creating Glassware for the device. In London, an app called GlassFit received more than $100,000 worth of funding from a crowdsourcing site to create one of the first fitness-oriented apps for the lens.

The current entry free for Glass Explorers, which enables a developer or his friend to purchase a Glass is $1,500. Many are speculating that the device, which receives monthly software update, will be available for consumers by mid-2014.

See a video demo of the Google Glass below from Tech Crunch.