KT teams up with Cognex to release 5G smart factory management solution
SEOUL, AJU - KT, a top telecom company in South Korea, partnered with Cognex, an American machine vision system company, to release a 5G-based smart factory management solution that will help factory owners to effectively operate production facilities and reduce operating costs.
KT said that the management solution called "5G Smart Factory Vision" features 5G-based real time product monitoring, a cloud platform, deep-learning analysis and production process notification alarms. Machine vision technology is used at smart factories to automatically inspect the quality of products and control production.
"KT's 5G Smart Factory Vision is capable of bringing innovation to the production industry," KT's new corporate business head Moon Sung-woon was quoted as saying. The smart factory solution uses 5G mobile networks to connect cameras and transfer image data onto a cloud network in real time with zero latency.
Because of growing demands for simplified production and efficient worker management solutions, the global market for smart factories is rapidly growing to reach $244.4 billion by 2024, according to Markets and Markets, a global market research company.
Based on 5G networks that began commercial services in April last year, South Korea plans to build more than 30,000 smart factories by 2022 to tackle the shortage of manpower and speed up production processes.