Google wristwatch concept Adrian Maciburko/Dribbble

Google is actively exploring the idea of making its own smart watch, a source briefed on the plans tells Business Insider.

Specifically, it is looking at ways it might be able to market this device.

This makes sense for a few reasons.

Back in October, Google secured a patent for its smart watch with a flip-up display. But now we know that it's more than just a patent.

As described in the filing, the watch would be able to do things like give directions, retrieve product information, and display e-mail notifications. (See image at bottom of post.)

Here's another reason: Wearable computing is huge right now.

Google has already taken major strides into the wearable computing space with its Google Glass project. Apple is reportedly working on a Bluetooth-enabled iOS watch with a 1.5-inch screen. Pebble, the company that raised a whopping $10 million on Kickstarter, is getting ready to ship its smart watches to more than 69,000 people.

There's also a handful of other companies working on smart watches, including Cookoo and I'm Watch.

According to Piper Jaffray's Gene Munster, wearable computing devices could eventually replace the iPhone and other smartphones over the next ten years or so.

If Google ends up releasing a wristwatch, it would fit in nicely with the company's local search strategy of giving you information before you even ask, and providing that information very quickly.

Google's Field Trip app, for example, gives you real-time information about points of interest as you walk by them. Google could easily implement something like Field Trip into a smart watch.

We'd caution that these conversations are very early stage, and it remains to be seen if Google will actually end up bringing a smart watch to market.