Organic light-emitting diode television, the next emerging display technology following liquid crystal display TVs, will soon replace plasma display panels and traditional cathode ray tube TVs in people’s living rooms, according to DisplaySearch.

The global OLED TV market is forecast to grow 10-fold annually by 2014, and reach over 10 million sets in terms of annual sales by 2016, the global display research firm said.

With Samsung Electronics and LG Electronics, two leading global TV giants, expected to release their first OLED TVs this fall, the market will be formed in the latter half of this year with sales likely reaching 20,000 sets this year.

Samsung and LG showcased their 55-inch OLED TVs at the Consumer Electronics Show early this year.

The research firm predicted that sales of OLED TVs will further increase to 250,000 sets in 2013, and 2.25 million in 2014, overtaking PDP TVs and traditional CRT TVs by 2015.

PDP TVs have been losing popularity over the years, with their share in the TV market expected to hit a low of 1 percent by 2015 from 7 percent in 2011.

CRT TVs will also likely see their market share slide to 1 percent by 2015, from 11 percent last year, DisplaySearch noted.

LCD TVs, contrary to the widespread belief that they will fade out once OLEDs hit the market, will continue to dominate with market share growing to 97 percent by 2015, from 83 percent in 2011.

However, with OLED technology quickly taking the spotlight, Sony and Panasonic, Japan’s two long-time electronics rivals, are joining forces to develop OLED TVs not only to take on Korea’s Samsung and LG but also to overcome their losses due to a strong yen, according to media reports.

The global TV market is expected to reach sales of over 245 million sets this year, and 284 million by 2016, DisplaySearch predicted.

By Park Hyong-ki (hkp@heraldcorp.com)