Imagine a scene that many of us carry out everyday: You are driving through a remote part of town, and you approach an intersection. At the intersection, there is a traffic signal where you stop and wait. As you look around, you see no traffic for miles! Wouldn’t it be great if the traffic signal knew the current traffic and changed the light to green? Welcome to the concept of Intelligent Transportation Systems (ITS).
Around the world, new infrastructure is being installed everyday. Places which are growing exponentially in vehicle traffic, such as China, are demanding new ways to operate traffic systems which are more efficient. Recently, a contract between the Chinese transportation authority and an American company was signed, which put into motion a variety of solutions, including the one described above.
Advanced technology makes everyday transportation both more efficient and bearable by “knowing” the current traffic flows. Further, this is an amazing advancement in the overall efficiency of transportation and consumption of resources. Thanks to the technological advances introduced by ITS, less fuel will be consumed on a global scale.
This system has significant implications on the current and future state of a country’s overall global competitiveness. As an international businessperson, it is important to be aware of a host country’s infrastructure and the overall impact it will have on one’s ability to deliver products. This is just one factor that is taken into consideration when evaluating the next country to which to export. Tools such as the Market Potential Index (MPI) help to identify key factors to understand before signing the deal.