Still ways off.
There was a time, back when everyone thought console games might be on the way out and where people thought the Xbox One and the PS4 were going to be the last generation of consoles. One industry analyst in Michael Pachter was among those who has actually gone out of his way to change his tune on this theory and has said he now believes there will be another generation and that generation will land sometime in 2019.
The … Xbox Two? and the PS5 are not even on most people’s radars these days and if Pachter is right, it will still be a couple of years before we even start talking about the new consoles. On the analyst’s latest podcast, called the Pachter Factor, he was asked if he thought the PS4 and the Xbox One would have their runs last as long as the previous generation. He responded, “I would be surprised if we had a next-gen console in 2018; we might have one in 2019, so I think 6 years is likely. We will have one by 2020, so I think seven years is a lock. So, lasting as long, probably not, but lasting longer than five years, probably so.”
It should be pointed out that Pachter isn’t going off of information he received from anybody on the inside. Instead, this is an educated guess by someone who has been around for a while. It’s possible there won’t be another generation, but that seems unlikely. We’ll have a few years before we see whether Pachter was right.