If you're an average commuter (and c'mon, you know you are) you spend 42 hours per year in traffic delays. That's extra time piled onto what would be your normal commute in light traffic.
Drivers in the worst areas? They sit for 80 extra hours or more annually, according to a report produced by INRIX and the Texas A&M Transportation Institute.
It's going to take awhile (and it may get worse before it gets better), but relief is on the way thanks to the astounding pace of technological advancements in automobiles and on roadways.
Even before self-driving cars take over in a big way -- making our roads extremely efficient and reducing congestion — many cities have plans to become "smarter" by encouraging connected cars and using sensors in their transportation networks.
In fact, the U.S. Department of Transportation is down to seven finalists in its Smart City Challenge. Rex Moore attended a C3 Mobility Conference in one of those cities -- Austin, Texas -- during South by Southwest Interactive.
While there, he learned about investing opportunities connected to the Smart City Challenge, including Amazon (NASDAQ:AMZN) Web Services, NXP Semiconductors (NASDAQ:NXPI), and MobileEye (NASDAQOTH:MBBYF). Rex has more in this video with C3 organizer Doug Newcomb.
