Hay Hayden.
I don't think the next change will be so visible as the change between incandescent, florescent and LEDs was. LED stands for Light Emiting Diode and that word Diode stands for component with two electrodes called the anode and the cathode. In poppulre use it is for a semiconductor material. I think the next change will be in the application of the technology and how it is made. on other word the material used and how it is made.
Check this video of where LED will take us.
LED's have a long way to go. one of the major problems that is blocking LEDs is heat. Strange as it sounds. LEDs just can't handle heat very well. So fitting them in a car head light running at +10W is a huge problem for them because 3-4 Watt is going in to light the rest is heat. That is why you don't get OEM installing LEDs in car with normal Halogen mountings. Also down lights are to cramp for the 25W LED that you need. I am not saying you don't get OEM Head lights. You do but there a complete redesign which addressed the heating problem.
Something else that is always overlook is the driver. An LED needs a driver that takes the input power and controls it so that the LED can work. Most drivers are about 85% efficient. that 15% wast should be take in to considerations. You get drivers that are 95% efficient but as always it is costly.
If you are building a new house or car then it should be able to design for it but it is a limiting factor. Cost at the moment is only an economy of scale problem. If the heat problem is addressed then the price will drop to a few cents.
What will be after LEDs is not so clear. I think like the combustion engine the Florescent light has a lot of hope but is not as lucky as the combustion engine with the lead it has in development. I don't think people notice how Compact Florescent lights has improved over the last 2 years. CFl has been over shadows by LEDs but really it is amazing and there is still lots of room to improve. But LED will win in the end I believe if the heat problems gets addressed.
LED technology as we know it has a theoretical limit above 330 lumen per watt, that is 100% efficient. so we are 1/3 there. or should I say 40% of the energy in to the LED becomes light. The projections that I have seen is that at 2025 it should be about 50-70%. or 200 lumen per watt at 10 Watts power.
Well heat is not a problem for cyclist, so we will for a longtime enjoy the benefits for the improvements on LEDs