Will technology make records obsolete one day?

Digital will continue to improve steadily and at some point will surpass the sound quality of vinyl for all but the most dedicated vinyl fans.  I don't know when vinyl records will stop being produced, but they will someday.  Digital recording has pretty much already replaced tape and tape degrades over time, so even music recorded on tape is being digitized.

I'm not saying anyone on this forum's digital system sounds better than anyone's vinyl system, I'm talking about trends well into the future.  

Here is the data for the US from the RIAA. Although the trends are clear, it won’t change anyone’s mind and I’m not trying to do that.

From 2016 to 2017 Lp units shipped increased 5.3%

http://www.riaa.com/wp-content/uploads/2018/03/RIAA-Year-End-2017-News-and-Notes.pdf

From 2017 to 2018 Lp units shipped increased by 7.2%

http://www.riaa.com/wp-content/uploads/2019/02/RIAA-2018-Year-End-Music-Industry-Revenue-Report.pdf

So new vinyl is growing, but the rates of growth are just OK. Streaming is where the growth is, accounting for 75% of music revenues for 2018, while all physical media accounted for 12% (vinyl 3.6%, cd 6%, other 2.4%), about the same as digital downloads’ 11%.

Here is the history of all formats since the RIAA has been keeping records:

https://www.riaa.com/u-s-sales-database/

So, IMHO, money will be put to work in developing digital streaming and sound quality will eventually improve to where it is considered the best available.

millercarbon, digital (streaming, cd, dvd, sacd, downloads) were 96.4% of music revenues in 2018.  That's a long way from being obsolete. 

My CDs, HDCDs and SACDs still play just fine and not a single digit has been lost to wear, no matter how many times they've been played.  Now I have access to millions of albums through streaming.  How many of the albums released yesterday do you have access to on vinyl?  I can hear just about any of them any time I want.

Don't feel threatened by digital.  If someone enjoys digital it doesn't make your Lps sound any worse.  Enjoy your music any way you want.  That's what it's all about, or at least it should be.