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While the rise of fashionable lifestyle wearable devices – tracking your movement, monitoring your heartbeat and even reporting on your patterns of sleep – has captured plenty of headlines and media attention, the business applications for wearables have largely escaped the hype.

Instead, in the business world, the focus has been on the predicted growth of the Internet of Things (IoT) and the need for more machine to machine (M2M) communications. Well, guess what,...