An email by Bluetooth Special Interest Group director Mark Powell reveals the next version of the Bluetooth wireless standard-- Bluetooth 5, an update promising double the range and speed of Bluetooth 4.2.
Named without a point number in the name of simpler marketing, Bluetooth 5 has the support of major technology companies (including Apple and Intel), and features "significant new functionality for connectionless services" such as location-based information and navigations. Such technology is identical to that used by wireless beacons, as well as the Apple AirDrop and Handoff features.
Currently we do not know whether Bluetooth 5 is compatible with existing hardware, although historically Bluetooth updates required new hardware. Either way more will be known following the official 16 June 2016 launch.