Market is abuzz with rumors again. Rumor that has been circulating like a sinusoidal wave since 2006. The rumor about Google Drive, an online (now cloud) storage service from Internet’s big daddy Google. And it seems, like Google Plus, GDrive will also see herds of people trying to get an invite to Google Drive.

According to Om Malik of GigaOm, Google Drive could arrive as soon as April’12.Om sighted on behalf of his sources the following:

According to the details from my sources, Google is going to offer 1 Gb of storage space for free, but will charge for more storage. The market leader Dropbox currently offers 2 Gb for free. Google’s product will come with a local client and the web interface will look much like the Google Docs interface. Interestingly, it will launch for Google Apps customers and will be domain specific as well. Google has also built an API for third party apps with this service so folks can store content from other apps in the Google drive. My sources are impressed, so far with what they have seen.

So, does it mean Dropbox successful run comes to an end? Who can say? Facebook is very much alive and kicking asses despite of Google Plus, Buzz, Wave and Orkut (All Google products). But it for sure mean competition for Dropbox and Box. We certainly don’t consider Microsoft’s SkyDrive a contender here. What do you think, will it be a game changer?