I guess my current camera is obsolete because it is not the latest model in the product line. I don’t worry about that too much because I used a view camera for thirty some years and technologically speaking that camera was obsolete about a century ago. I think there are very few opportunities for affordable upgrades to cameras from this point on. Yes, camera manufacturers can make better sensors, better electronics and better lenses, but it cannot be done at a price most people can afford.
So where does improvement come? As the title of post says, the future is software. It takes a major investment to create a physical object. A company needs lots of people, facilities, raw materials and a means of distributing physical products. This takes lots of time and money. To upgrade software, all that is needed is a computer and a lot of imagination. It is much more economical (and profitable, I might add) to make software work better than it is to introduce a new camera.
The folks at Adobe figured this out a long time ago.
An old panoramic image from the Little Big Horn Battlefield National Monument.