Transportation plays a key role in today’s economy. Hence, intelligent transportation systems have attracted a great deal of attention among research communities. There are a few review papers in this area. Most of them focus only on travel time prediction. Furthermore, these papers do not include recent research. To address these shortcomings, this study aims to examine the research on the arrival and travel time prediction on road-based on recently published articles. More specifically, this paper aims to (i) offer an extensive literature review of the field, provide a complete taxonomy of the existing methods, identify key challenges and limitations associated with the techniques;(ii) present various evaluation metrics, influence factors, exploited dataset as well as describe essential concepts based on a detailed analysis of the recent literature sources;(iii) provide significant information to researchers and transportation applications developer. As a result of a rigorous selection process and a comprehensive analysis, the findings provide a holistic picture of open issues and several important observations that can be considered as feasible opportunities for future research directions.