Apple is planning a major event in San Francisco on March 2 and is expected to show off the highly anticipated and speculated about Ipad 2.

Apple sent out invitations to the media to the Yerba Buena Center for the Arts, which has been a venue of choice for many Apple product unveilings such as the Ipad last year or new Ipod and Apple TV last September. The invitation had an image of a large calendar two, unpeeling just a little to show an Ipad. It had the words, “come see what 2011 will be the year of,” according to Forbes.

AppleInsider reports that the Ipad 2 will likely be more of a refresh than a brand new version of the Ipad. According to its sources, the new tablet is set to have faster CPU and more RAM, but also a front and back facing camera, is expected to be lighter and thinner and have an improved anti-reflection screen. It will also feature an upgraded dual-core SGX543 graphics processor from Imagination Technologies.

The Christian Science Monitor also revealed that The Ipad 2 might 3 antennas allowing it to use Wi-Fi, GSM but also CDMA networks like Verizon’s. The Apple Ipad sold almost 15 million units since its launch a year ago and has since dominated the market. According to analysts, that number is set to double this year as the market enlarges to reach 50 million units, says Reuters. Although the Ipad is still expected to dominate in 2011 other companies are quickly getting in on the market and are aggressively promoting their own tablets; HP’s TouchPad, Motorola Xoom, Samsung Galaxy Tab, and Research in motion are all expected to give Apple a run for its money in the months and years to come.