"We do not expect the 'next' generation to begin before 2013, if at all," said Pachter in a newsletter today.

Specifically, Pachter said to not expect any new hardware in 2010 other than "the long-rumoured high definition Wii, which is likely to upgrade the Wii to current console technology."

"We remain convinced that the publishers will resist the introduction of any video game hardware technology that requires a refresh of software, as the publishers have as yet to capitalise on the immense investments made in being competitive in the current cycle," elaborated Pacther.

"We therefore think it is likely that the 'next' generation will begin after 2013, meaning that software sales are likely to grow by a compounded annual rate of 6-10 percent for another five years."