What comes after CD`s?

Hi! So what will the future bring in with regards to audio technology? We`ve seen the great vinyl and cassette come and go, then came the compact disc which is durable,good life span when stored correctly, plus it`s digital sound allows audio to remain the same quality use after use, but it`s down flaw is the 16bit 44.1khz! which just cannot re-produce the full and rich sound of analogue and therefore costing the audiophile a fortune in essential converting devices. Then came the mp3! which is perfect for listening to with earphones, but fails horribly when played in an uncontrolled environment.

There is a pattern developing in the world of audio innovation and that pattern is a noticeable decline in sound quality! So what`s next? Will the DAC converter 24bit 96khz,192khz become the standard converter found within the common hi-fi and cd player? or will music be distributed in chip form!

I`d appreciate your input on the issue :)