I think it's fair to say that this generation will have less total hardware sales then the 7th gen, There's 3 systems that are not going to reach the sales of there predecessors (3DS, WiiU, PSVita)
I think it's too early to predict PS4/XB1 sales. But so far both consoles seem to be doing well.. Obviously PS4 is doing better in terms of sales at the moment and it hasn't launched in Japan yet so it's looking good for PS4.
Nintendo inflated hardware sales heavily in the 7th generation, There's going to be a drop there without a doubt.. 3DS will sell well still but not DS levels and WiiU is obviously going to sell no where near Wii.
Sony's Handheld market is also another part that is going to cause a big drop in 8th gen hardware sales from PSP to PSVita.
That being said, I don't think that this means that gaming is doomed or anything, I think it's just the numbers were going to drop now that the handheld market has declined and WiiU has not grabbed Wii's casual market.
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