This week at the Google I/O developers conference, Google is unleashing a slew of innovative products and services across its Internet, mobile, OS, and search platforms.  From the unifying version 2.2 Froyo release of the Android mobile operating system to the announcement of a web app store for the Chrome OS, the foundation is being laid for a rich future of easy access to information and content across multiple platforms.  But of all this exciting innovation oozing from the conference, the most important is Google TV.

In recent months, analysts have questioned the future growth prospects of Google as a company.  Competition from Apple and Microsoft has taken a toll on Google as both of these competitors brought innovative products, such as the hugely successful iPad, to market.  The perception of Google as a technological innovation hub seemed to erode.   With its search business – into which revenue generating ads are injected – flat-lining, many have wondered what the company’s next growth engine will be.

Today Google answered that question.  The 2010 television advertising market is expected to approach $70 billion in the US alone.  When compared to the $23 billion online advertising market from which Google currently draws most of its revenue, it is implicitly clear why Google, an advertising company, would want to break into this medium.  Having successfully branched its core search technology into the mobile space, the next logical step is joining the convergence of traditional and online TV content.

The video below briefly explains Google TV.  It is mainly a novel interface to search for and aggregate content.  While it looks impressive initially, it’s unclear how it will compete with other user interfaces such as Boxee.  Is it a cable TV killer?  Probably not in the short term.  It will take years for Google TV, or any Internet content UI, to pervade the hardware in the average person’s living room.  And that’s only if the technology is correctly presented and refined to the point where it appeals and adds value to the masses.  But the motivation to do Google TV right is there.  If Google wants to own the next decade’s information “triple play” – Internet, mobile, and TV – it has no choice.