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1. The Smartwatch Market So Far

A whopping 28.1 million smartwatches will be sold this year, Strategy Analytics predicts -- a big-time increase in the amount of wearable technology in the marketplace. Photo: Bloomberg/file
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2. Apple Market Share

But forecasts for the Apple Watch specifically are all over the map. Wall Street expects Apple to sell 14 million Watches in 2015, but Piper Jaffray predicts 2015 sales will be closer to 8 million units -- before building to 40 million to 50 million units by 2017 -- or 10 percent of Apple's revenues at that time, according to The Wall Street Journal. Apple Watch will grab 55 percent market share in 2015 (representing 15 million units), Strategy Analytics predicts. Photo: Bloomberg/file
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3. Use Case #1 – Patient Monitoring

The customizable nature of the health watch will give people an even easier way to monitor specific health concerns, enabling them to more easily track health indicators. For some, it could help monitor fitness levels, but developers are looking to use HealthKit and the Apple Watch to help patients and medical professionals regularly monitor and self-manage chronic illnesses -- specifically of interest to health and life insurers. Photo: Bloomberg/file
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4. Use Case #2 – Fitness

Remaining active is imperative to maintaining health and wellness. And while FitBits and Jawbones have revolutionized measuring physical activity, new innovations with the Apple Watch allow the device to sense even when users stand. John Hancock recently announced a life insurance product tied to FitBit use, and if Apple Watch has significant penetration, it could open up even more potential policyholders for that initiative. Photo: Bloomberg/file
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5. Use Case #3 – Patient Tracking

Some U.S. hospitals are already looking at how Apple technology will help them do a better job of monitoring patients. An informal survey of top hospitals earlier this spring found that about two-thirds were rolling out pilot programs using Apple’s HealthKit service, or were discussing potential applications that can track data from patients with chronic conditions. The Apple Watch can serve as a relatively inexpensive data collection device for HealthKit-based apps. Photo: Bloomberg/file
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6. Use Case #4 - Financial Planning

With the increasing popularity of online investing tools, as well as robo-advisors, smartwatches could be crucial in automating communication of must-react information to customers that computing algorithms identify. In addition, because stock quotes are a natural fit for the watch form factor, customers could get more real-time information to initiate communications with advisors. Photo: Bloomberg/file Life insurer Northwestern Mutual buys financial planning startup LearnVest
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8. Use Case #5 – Operational Efficiency

For industries in constant communication, the Apple Watch will offer continuous communication: knowing right away when someone sends a message or email. A notification appears front and center on Apple Watch. Hold up your wrist to read the message, or lower your arm to dismiss it. No more fumbling with phones or diverting attention from meetings. Photo: Bloomberg/file
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