The U.S. is still stalled in the research phase and the ITIF report calls for a federal approach comparable in scale to the Interstate Highway System launched in the 1950s, with national real-time traffic information in the 100 largest cities by 2014 and a mileage-based user fee system by 2020.

CNN: South Korea and Japan streets ahead in smart transport

The system is capable of integrating real-time information, such as fuel prices, parking, traffic, tracking, weather forecasts and images from traffic cameras.

ENGADGET: Garmin K2 in-dash infotainment system brings a hint of glass cockpit to the road