The Google I/O held at San Francisco this year-2015 launched the Android M developer preview.
Android M will bring in some major features apart from new design which was introduced with Andriod Lollipop like - App permissions, Web experience, Fingerprint support, Mobile payments, App links, Power management, RAM manager, Now on Tap, Storage devices, App drawer, others.
We will keep on learning about the new features till the final version comes out and developers get good hands-on on it, but lets make some guesses for what could the M stand for.
Google has been following the trend to name the Android versions alphabetically and M is the next in series.
Here are some guesses for M -
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