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I see this generation being shorter, and a contraction of the console industry, but no crash. The videogame market is as turbulent as it was thirty years ago, but it's also far more strongly entrenched. A weak Nintendo, and no sign from Microsoft or Sony that they understand how to expand their audience not just beyond their PS3/360 base, but into the wider audience that swelled last generation's numbers, as well as a weak portable console sector, will mean console contraction as more mainstream tablet and smartphone gaming goes from strength to strength across a wider variety of markets.

Does this mean doom for consoles? No--it just means that the console industry will change in order to grow again in the future.