Here is a gif, that shows a few of the things that Oculus is experimenting with. Some of these things we can certainly expect to see in the second generation of headsets.
A lot of these things we are already seeing with current headsets:
Larger FOV: This is pretty explanatory I think.
Variable Focus Lenses
Inside Out Tracking
Markerless Body Tracking
Gloveless Finger Tracking
Not in the video: Eye Tracking. The Fove has supported this for a while.
Not in the video: Wireless: The Vive now has a wireless pack that can be purchased.
This was the 5 year plan for VR:
And most recently, Abrash has said that the company has been progressing faster than anticipated in reaching these goals.
On the software side, Valve is making VR games:Last edited by the-pi-guy - on 24 June 2018