The next generation Android OS that will replace Android 4.4 KitKat is set for launch at the Google I/O 2014 according to reports.

Codenamed "Moonshine", Android 4.5 or 5.0 Lollipop will most likely be presented during the developer's conference hosted by the tech giant on June 25-26 in San Francisco.

The next version of Android is expected to focus on tablet optimization, bug fixes and brand new features.

Apart from the OS update, predictions also mentioned of the unveiling of two industry game changers: Android Silver and Android Wear.

Earlier this year, Google has revealed that it has plans of extending Android wearable devices outside Google Glass, and it will start with developing smart watches.

According to the Google Blog, Android Wear will inject a technology that will allow watches to provide straight answers to spoken questions and be able to monitor health and fitness routines of users.

On the other hand, the Android Silver program is rumored to bring some modifications to the custom Google launcher, limit third party apps that could be pre-installed, and facilitate integration between Google Chrome and Google Search.

Among the first Android Silver devices will be made by LG, supporting speculations that Google is dropping its Nexus smartphone line.

Notorious Twitter leaker, @evleaks revealed that Qualcomm MSM8994 will power these LG devices that will be distributed by exclusively by Sprint in the United States.

Apple has recently stunned the world with its promising updates during the WWDC 2014 event, highlighting the revolutionary iOS 8.0 and mobile search features that threatens Google's core business.

Knowing the Google guys, they would not take this sitting down and this is why pundits and consumers alike are anticipating a grand show during the Google I/O 2014 conference.