We can increase them by a lot. However it will never seem as big of jump even though the graphic power necessary to display it will be tenfold.

Personally, I think the gap from PS3/360 to PS4/Xbone screams diminishing returns.

1996 to 2006 took us from Mario 64 to Gears of War as the industry's premier graphics showcase, I doubt anything coming out in 2016 will make Gears look as archaic as it made Mario look.

Similarly, in the movie realm, 1983 to 1993 took us from Return of the Jedi to Jurassic Park, 1993 to 2003 took us from Jurassic Park to Return of the King, and 2003 to 2013 took us to The Hobbit Part Two; diminishing returns there as well.

When games wow me visually these days, it's more often due to art direction than technical oomph.

It's all about size, and delivery, as several others have stated. Although, PS4 has a ways to go before coming on par with the PC, spoken as a PS4/PC gamer, graphics are hitting a point where I'm not certain other than texture quality, much can be improved. New techniques like animal fur physics will continue to be added, but for the most part, we're reaching a plateau.

I'd expect game consoles to become much smaller and power efficient over time, as well as improve on resolution and texture quality, load times, and the like.

Then again, people said this same sort of stuff around the launch of the Xbox 360 and PS3. I'm sure there are plenty of improvements to go on for at least another generation.

Ya and if u go back even further

mid 70's-Pong and clones, basically a dot floating back and forth

mid 80's-Mario, Zelda, Metroid, full world's that u could explore

mid 90's-Mario 64, Resident Evil, the beginning of 3D worlds

mid 00's-Gears, Uncharted, Crysis, beginning of photo-realistic visuals

mid 10's-basically the same thing as mid 00's just a bit better

Have you guys seen the movie "Inception"? Yeah. That's the future of video gaming.