Ubisoft CEO – PS4, Xbox 720 Coming

But it’s taking too long, and because of the lack of new hardware, the industry has seen historic declines, says Yves Guillemot, CEO at Ubisoft.

The exec told Games Industry that “The consoles are coming,” and when they arrive, the industry will see a “huge boost, just like they do every time that they come.” He added, “This time, they took too long so the market is waiting.”

Yves then stressed on the importance for platform holders to regularly release updated hardware to constantly keep the games industry growing.

“I think it’s very important for new generations to come regularly with innovations for the industry, so I think we’ve been waiting a bit too long. What is important is that when those new generations do come, they bring enough innovation to make the market strong again,” he said.

Next generation consoles from Microsoft and Sony are expected later 2013, with official unveiling occurring during E3.