An analysis from Strategy Analytics says that PlayStation 4 will maintain its strong lead over Xbox One and will outsell it by 40 percent by 2019.

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Connected Home Devices reported Sony's latest console will sell around 80 million units by 2019 while Microsoft will have at least 57 million units sold. Xbox One and PlayStation 4 are already on their peak of their respective life cycles and there is still room for growth until 2019.

Sony has told IGN that 18.5 million PlayStation 4 consoles were sold since 2013 and Xbox One has shipped out 12.4 million units during the same year. PlayStation 4's sales are closer to PlayStation 2's first-year sales, which still remains the best selling console in history with around 150 million units during its lifetime.

From the other side of the fence, Nintendo Wii has sold 100 million units during its lifetime.

Strategy Analytics digital media strategies service director Michael Goodman said, “Strong Year One shipments and a quickly growing installed base for PS4 and Xbox One are proving that game consoles are still an essential part of the ecosystem.”

Analytics researcher Eric Smith also echoed Goodman's take, saying, “Despite reports to the contrary, the game console market is not dead,” said Smith. “Core gamers have moved faster to this current generation than in any previous generation. The main difference in this generation is that casual gamers who bought a Wii are remaining largely on the side lines as free-to-play casual games and mid-core games on tablets and smartphones have captured this segment of consumers.”

However, Newzoo chief executive officer Peter Warman disagrees. “Personally, I am not convinced that PS4 will continue its lead over Xbox One. I believe the Xbox 360 had and has a stronger offering for people who are not ready yet to migrate to Xbox One.”