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Drakrami said:

Quite possible next gen wont launch until 2019/20. To be honest, the big 3 deserves to make money for all their efforts. And longer generations will make them more money.

With 2/3 consoles not doing that great compared with their predecessors I can't see it happening. It will be much like the sixth -> seventh generation transition. Nintendo will probably release their home form-factor of their next platform either at the end of 2017 or 2018, Microsoft in 2018, and Sony won't want to be left behind so they'll release with Microsoft and/or Nintendo.