We all remember headlines about how console games are dead or dying. Mobile games, PC games, Android settop boxes, virtual reality, and cloud gaming were all going to kill off consoles.
Does the console game business face any long-term threats? Sure. The consoles are by their nature proprietary machines, and they will face the threat of open standards espoused by rivals such as Android and the Windows PC, which can embrace new technologies at a more rapid clip.
But its not much to worry about.
Source: N4G PC Console Games Arent Dead Yet