According to a new report from Pike Research, smart transportation systems, also sometimes known as intelligent transportation systems (ITS), will see increased investment in coming years because it is seen as a way to maximize existing transportation systems without making major new capital investments.

The key enabling factor for smart transportation is embedded intelligence, which allows the vehicle or infrastructure to communicate with other transportation assets and to respond to outside management and external conditions. Cities, transit operators, fleet managers, and other owners of transportation assets see smart transportation technologies as tools to help them enhance mobility, reduce fuel consumption and emissions, improve safety, and strengthen economic competitiveness.

Pike Research forecasts that global investment in smart transportation systems will total $13.1 billion between 2011 and 2017.