My personal guess is that the emphasis for the next several years will be on integration and customization software, and not on hardware (I'm afraid the TV manufacturers and home theater audio manufacturers may be in for a long dry spell -- they aren't offering anything new that's interesting or useful, and nothing seems to loom on the horizon). Apple currently leads the way with continuing integration of iTunes Match, Apple TV, Airplay, etc. We will probably see new aggregation products and services intended to make it easier for us to quickly access our favorite content.
Imagine, for example, an automobile audio system with a built-in iTouch or iPad (possible now, since IOS5 is untethered from iTunes for software updates) that uses Data services from AT&T or Verizon to stream pre-selected Pandora channels, or MLB.com Gameday audio for your favorite teams, and would also give you access to you iTunes albums from the iCloud.
Meanwhile, Apple TV adds a DVR function (perhaps licensed from TIVO) and gets re-designed to focus more on finding desired content, regardless of source, checking across all your available sources (Netflix, iTunes Store, Amazon, Network websites, etc.) to find the content you are looking for.
Just random, and perhaps pie-in-the-sky, examples. But I think those sorts of things are what is coming next.