Revenue of wireless power receivers and transmitters in wearable applications will increase to $480 million in 2015 against $15 million last year, said IHS Technology.
Apple Watch, which is expected to hit the wearable market this year, will drive the growth.
By 2019, wireless charging in wearables will generate revenue exceeding $1 billion.
Vicky Yussuff, analyst for wireless charging at IHS Technology, said: “Interest in the use of wireless charging remains high on the part of wearable technology providers and device original equipment manufacturers. As a result, penetration is expected to escalate rapidly over the next five years.”
Apple Watch smartwatch will ship with Apple’s MagSafe inductive charging solution, and is expected for release by the end of the second quarter this year. The product is expected to drive awareness of wireless charging.
Apple Watch is projected to take a dominant share, accounting for more than 70 percent of total revenue in wireless-charging-enabled wearable devices.
IHS projects that by the end of 2017, shipments of wearable-technology wireless charging receivers that allow charging over distances will overtake inductive or tightly coupled solutions.