Wearable technology seems poised to be at the center of the next big tech revolution. Not only are there countless uses for its many variations — some police departments have been using wearable cameras to monitor officer conduct, for example — there are many ways to monetize it, such as Google’s (News - Alert) ‘pay-per-gaze’ advertising, creating win-win scenario for companies and consumers.

Recently, James Martell, VP of Business Development at The School of Internet Marketing, spoke in a podcast with Webby Award nominated technology blogger Aftaab Gulam and Sarah Bundy, an affiliate marketing expert as well as founder and CRO of All Inclusive Marketing, about the state of wearable tech and its exciting future.

“Wearable technology is very much going to be the next big thing to revolutionize the world over the coming years,” said Martell, kicking off the discussion. “Sarah and Aftaab are both leading experts in their fields and both have kept a close eye on the developments of wearable technology over the last few years.”

In terms of sheer numbers, pointed out Gulam, the wearable tech industry is already valued at $4 billion, with steady growth bringing that figure to between $13 billion and $15 billion within the next five years.

However, growth in an industry doesn’t mean that companies can expect to simply jump on board and experience success. As always, it’s important to identify potential trends before they happen in order to stay ahead of the competition. As of now, wearable technology products have already assimilated many of the most popular features found in tablets and smartphones, but adapted for greater practicality and ease of use. From that jumping off point, there’s room for plenty of innovation, and it’s up to large companies and start-ups to shape the future going forward.

The podcast covers this, as well as potential issues for the market in terms of privacy and security, while focusing on how affiliate marketers will be able to use this wearable technology in the future.