It was reported that the Google Inc (GOOG.O) Chief Executive Eric Schmidt has predicted for a 'huge revolution' with the arrival of a truly mobile Web which offers a new generation of location-based advertising.

Addressing a panel at the World Economic Forum, he said It's the recreation of the Internet, it's the recreation of the PC (personal computer) story and it is before usand it is very likely, it will happen in the next year.

However, the current estimates from mobile advertising have remarkably been less and even consultancy Forrester have calculated that the revenue from it would be under $1 billion by 2012. Though the Google CEO Schmidt riding high on confidence, considers the predicted figure to be too low and also mentioned that the estimate has failed to take into account the fact that mobile Web was reaching a tipping point.

At present, Google is a prime mover by bidding for coveted airwaves to launch an open U.S. wireless network and with Mobile web advertising, the company will be well beyond its core Web search and online advertising franchises. Though in retrospect, some analysts are worried at the high costs involved, but Schmidt with confidence has said that mobile web advertising is something that would be good for business.

Though the people discussing this topic on a forum reflect a mixed bag of emotions. Besides, it seems that the content providers, already struggling in the modern world of music and film downloads are less convinced that the mobile Internet is a minefield.

Now what remains to be seen is the extend to which this 'huge revolution' can affect our lives?Good or bad, lets see!

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