Wedbush Securities video game and electronic media analyst Michael Pachter predicts that Sony’s Playstation 4 will outsell Microsoft’s Xbox One in the battle of the next-gen consoles. Pachter feels that the PS4 will sell 37.7 million consoles by the end of 2016, while the Xbox One will reach sales of 29 million in the same time frame. Pachter also predicts that Nintendo’s 2012 Wii U console will achieve sales of less than 20 million consoles.

Pachter, who is a considered a social media, electronics industry and video game expert analyst, is often quoted by national publications like the New York Times, the Los Angeles Times and the Wall Street Journal.

He is well known for his predictions in the video game industry, often analyzing game releases and console statistics. And he predicts that the price of Sony’s PlayStation 4 will drop from $399.99 to $299.99 by 2016. He also expects Microsoft to reduce the cost of its next-gen Xbox One: from $499.99 to $349.99. Pachter foresees that the standard price of new titles to remain the same at $59.99.

The PlayStation 4 launched in North America on Nov. 15, selling 1 million units within the first 24 hours of its release. Experts predict that its sales figures were approximately 2 million as of December 2013. The Xbox One launched in 13 countries on Nov. 22, also reaching 1 million SKUs within the first day of its release. Both consoles were difficult to find in stores and online during the holiday season, yet Sony and Microsoft are actively replenishing supplies at many major retailers.

Each next-gen system comes with its own special features and exclusive titles. The Xbox One is equipped with Kinect and touts itself as an all-around entertainment center. The PlayStation 4, priced 100 less than Microsoft’s console, has been described by GameSpot as “gamer’s choice for next-generation” and will feature upcoming exclusive Sony titles like Naughty Dog's “Uncharted 4.”

Do you think Pachter's predictions are correct? How do you think both systems will sell during the next 24 months? Leave a comment below.