The detail on PS5 is still scarce but based on the insiders' commentary; fanboys can have a clue on what it will look like. Sony's next-gen console will have a cutting-edge technology where digital download rules as PlayStation slowly shifts from physical games.

It is reported that the PS5 might not contain an optical drive but focus on the streaming contents. As far as the design is concerned, the new console will be sleeker and slimmer with high-end graphics and processor.

Sony's Shuhei Yoshida initially revealed that there will be a PS5 to cater the developers vision. According to Yoshida, the iteration's future is inspired by the current PS4 that profits hugely but the next console needs more than just power, thus, developers could help creating their best version of console. Notably, Yoshida's interview last year did not seem to hint at any new product debut but it looks like he is getting more confident about the company's plan to release an iterative console, IGN reported.

Moreover, PS5 could be using a new RAM system, 3D stack, which theoretically can boost power and efficiency. The virtual reality enhancement is going rapidly and within four years, the PSVR will have an iterative update.

That said, Sony could be launching PS5 alongside the upgraded PSVR in 2020. In addition to that, the PlayStation 4 successor will have a native 4K capability and probably, a wireless VR feature but with such huge upgrades, it might take long for PS5 to materialize that it could need another four years from now to develop, TechRadar reported.

Meanwhile, Microsoft has prepared the Xbox Scorpio for E3 debut this year. The leaked specifications detail how powerful the console will be - which is why competitors should be worried. Find out more about the new gen consoles reportedly launching at E3 2017 here.