Kamiya the man behind Bayonetta 2 says that he would like to make a third one as long as the second sells well. This makes and sense and brings us back to why the game is a Nintendo exclusive to begin with. Nintendo offered to fund it as even though it has a following it is a selected few. I hope the crowd grows but it is hard to say. Even though it is a sequel Bayonetta 2 must be reintroduced to people who never played as the Wii was left last time. If it does do well and we see a third one I hope all consoles get it that we can allow enjoy playing the umbra witch.
Article: http://wiiudaily.com/2013/07/kamiya-on-bayonetta-3/