More specifically, it'll be a cheaper version of the iPad Mini, which hasn’t been updated in nearly four years. The second iPad is a 10-incher with a faster processor and Lightning port. It might be released this spring. But that's not all: Bloomberg also reported that an improved iPad Pro could debut, but not until spring 2020. When it arrives, it should introduce a laser-powered 3D camera, which you can read more about here.
Long story short, Apple is developing a new TrueDepth system that uses time-of-flight 3D cameras with lasers that bounce off objects in a room to create a 3D image of your surroundings. The result should be a detailed AR experience, with accurate depth perception and placement of virtual objects. It can supposedly scan areas up to 15 feet from a device. Apple's existing TrueDepth system only works at distances up to 50 centimeters.
Apple seems to be doubling down on the iPad as of late, because it is reportedly also working on iPad-specific features that will arrive with iOS 13, such as a new home screen and tabbed apps, as well as improvements to file management. Apple typically previews major updates to iOS during the summer at its annual WWDC show, but if it does have a spring iPad event, we could see some of these new features demoed sooner.
Keep in mind there's also been evidence to suggest that anywhere from four to seven new iPad models are coming. Learn more about those here.