Step 1: Understanding the Concept:
Buddhist cosmology describes various realms and a timeline of multiple Buddhas. The era of the current Buddha (Gautama) will eventually fade, leading to the arrival of a new Buddha.
Step 2: Detailed Explanation:
Maitreya is recognized by nearly all Buddhist sects as the successor to the historical Shakyamuni Buddha.
He is currently believed to be a Bodhisattva residing in the Tushita Heaven, a realm where enlightened beings dwell before their final birth on Earth.
Avalokiteshvara (Compassion), Manjushri (Wisdom), and Amitabha (Infinite Light) are other significant figures but are not designated as the "Next Buddha" of our world system.
Step 3: Final Answer:
The future Buddha is Maitreya.