I do not believe that there is an industry standard for how long a PC should last. I would say that the PC's ability to last is dependant on how it is used. For example if a system is used for gaming or multimedia projects, then within 3-5 years the hardware would be considered old and antiquated. Also, installed software and OS updates could make the system run extremely slow, compared to how it ran when it was build. These two things alone would drive most users to upgrade to a newer system.
Now if the system is being used for nothing more than emails, browsing and some office use, then the system could last for quite some time. I have just a system at home, that the family uses. This system is over 7 years old now and while it drives me nuts (slow boot times etc) the family is much more patient with it. They understand that it is running slower than it used too, but they also see that it is very useful to them. When talking about an upgrade, they say it could wait a year or two, which would make the system roughly 10 years old.