A two-week video storage analysis for 2MP and 5MP IP cameras — the storage maths, the surveillance market landscape, the competitive field across hardware/VSaaS/services, and the business opportunities emerging from it.
This report is a continuation of the camera research we began under Project Chimera — the Happy Machines / Greenware Systems study into the collapsing cost of camera sensor hardware for the home-security market. Where Chimera mapped the capture half of that two-headed beast, this analysis turns to what sits behind the lens: how much storage two weeks of footage actually consumes, what it costs in USD and INR, and where the market, competitive and service opportunities now lie.
This report details the estimated storage requirements for a two-camera IP surveillance system comprising one 2MP (1080p) camera and one 5MP camera, recording continuously over a 14-day (two-week) period. It contextualises those technical findings within the current global video surveillance market landscape, maps the competitive environment across hardware, software, and services, and identifies viable business opportunities emerging from structural industry trends.
Storage estimates are presented across two video codecs (H.264 and H.265) at both conservative and high-quality bitrates. Hardware procurement costs are provided in USD and INR based on current 2026 market pricing.
Key technical findings at a glance:
| Scenario | Combined Storage | Recommended Drive | USD Cost | INR Cost |
|---|---|---|---|---|
| H.264 — High Bitrate (worst case) | ~1.81 TB | 4TB | USD $100–$135 | ₹10,000–₹14,000 |
| H.264 — Low Bitrate | ~907 GB | 2TB | USD $80–$90 | ₹6,500–₹9,000 |
| H.265 — High Bitrate | ~907 GB | 2TB | USD $80–$90 | ₹6,500–₹9,000 |
| H.265 — Low Bitrate (best case) | ~453 GB | 2TB | USD $80–$90 | ₹6,500–₹9,000 |
Key strategic findings:
| Parameter | Value |
|---|---|
| Recording duration | 14 days (1,209,600 seconds) |
| Frame rate | 20–30 fps (typical IP camera default) |
| Recording mode | Continuous 24/7 (baseline scenario) |
| Codecs compared | H.264 and H.265 (HEVC) |
| Drive type | Surveillance-grade HDD (not desktop-grade) |
Storage (GB) = Bitrate (Mbps) × Duration (seconds) ÷ 8 ÷ 1,000
Example: A 4 Mbps stream over 14 days:
4 × 1,209,600 ÷ 8 ÷ 1,000 = ~604.8 GB
The video surveillance industry has evolved well beyond passive recording. The integration of AI, edge computing, and cloud storage has transformed it into an active intelligence layer across commercial, industrial, government, and residential settings.
| Metric | Value |
|---|---|
| Global market size (2026) | USD ~$90–$95 billion |
| Projected market size (2033) | USD ~$204 billion |
| CAGR (2026–2033) | ~11.7% |
| Asia-Pacific market share (2025) | ~43–55% of global revenue |
| North America market share (2025) | ~31% |
| Fastest-growing segment | Video analytics (~14.7% CAGR in the US) |
| Largest end-user segment | Industrial sector |
Key demand drivers include:
The storage sub-market — encompassing NVR-attached HDDs, NAS systems, and cloud storage — is a distinct and rapidly expanding segment.
| Research Firm | 2026 Market Size | Projection | CAGR |
|---|---|---|---|
| MarketsandMarkets | USD $10.17B | USD $14.13B by 2031 | 6.1% |
| Fortune Business Insights | USD $18.16B | USD $46.31B by 2034 | 12.41% |
| Research and Markets | USD $39.43B | USD $84.54B by 2030 | 21.0% |
| Spherical Insights | USD $11.4B | USD $34.2B by 2035 | 11.7% |
Note: Variance across analyst estimates reflects differences in scope (storage hardware only vs. storage + VMS + analytics). The consistent signal is sustained double-digit growth.
Key storage-specific trends:
VSaaS represents the most disruptive structural shift in the industry — moving storage, management, and analytics off-premise and into subscription models.
| Metric | Value |
|---|---|
| VSaaS market size (2026) | USD ~$7.80 billion |
| Projected market size (2029) | USD ~$10.17 billion |
| CAGR | 16–19% |
| Primary drivers | Scalability, remote access, reduced hardware capex, AI integration |
| Primary adopters | SMBs, retail chains, multi-site enterprises |
The camera and NVR hardware market is dominated by Chinese manufacturers at the volume tier, with Western and South Korean vendors holding the premium and compliance-sensitive segments.
Origin: China | NVR Market Share: ~23% | Positioning: Market leader
Hikvision is the world's largest video surveillance manufacturer by revenue. Their 2026 M-Series NVRs incorporate H.265+ compression, AI-assisted smart search, and on-device analytics. AcuSense technology provides reliable human/vehicle classification, reducing false alarms without cloud dependency. Their mobile app leads competitors in UI/UX for homeowner and SMB deployments.
Strengths: Broadest ecosystem, lowest cost-per-camera, most widely deployed globally, strong AI feature set across all price tiers.
Limitations: Listed on the US FCC Covered List and NDAA Section 889; banned for US federal procurement. Australia and Japan adopted equivalent bans in 2025. Geopolitical risk is a material factor for buyers in regulated markets.
Origin: China | Global Market Share: ~17% | Positioning: Value challenger
Dahua is the world's second-largest surveillance manufacturer. Their WizSense and WizMind AI tiers offer competitive features — including facial recognition, people counting, and perimeter protection — at 30–40% lower total cost of ownership than Hikvision. 83% in-house component manufacturing supports price stability and supply chain resilience.
Strengths: Best value in the mid-market, open platform facilitates third-party integrations, strong performance for SMBs with 4–16 cameras.
Limitations: Subject to the same NDAA/FCC bans as Hikvision in the US and equivalent restrictions in Australia and Japan. Dahua is 10–15% cheaper on initial cost but may carry higher long-term regulatory exposure.
Origin: Sweden | NVR Market Share: ~19.6% | Positioning: Premium, compliance-safe
Axis pioneered the IP camera category and remains the preferred vendor for regulated, defence, and government deployments globally. Their July 2025 ARTPEC-9 chip delivers 40 trillion operations per second of on-camera AI. Axis is NDAA-compliant and TAA-certified — a critical differentiator in US, Australian, and Japanese government procurement.
Strengths: Regulatory compliance, best-in-class cybersecurity posture, ONVIF interoperability, strong integrator ecosystem.
Limitations: Cameras and NVR solutions cost 2–3× more than Hikvision equivalents. Not cost-competitive for budget-constrained residential or SMB deployments.
Origin: South Korea | Positioning: Enterprise, AI-driven
Hanwha Vision has positioned itself as the compliance-safe alternative to Chinese vendors in enterprise and government. In September 2025, the company committed USD $320 million to expand Vietnamese manufacturing capacity, reducing supply chain risk. In May 2025, Hanwha launched OnCloud — a direct-to-cloud VSaaS platform with AI search, mobile support, and multi-vendor camera compatibility — signalling a strategic move into services revenue.
Strengths: NDAA-compliant, strong enterprise integrations, increasingly competitive on AI analytics, cloud-native offering.
Limitations: Higher price point than Hikvision/Dahua; still building out distribution and installer ecosystem in some markets.
Origin: Germany | Positioning: Premium enterprise
Bosch targets critical infrastructure, industrial, and government verticals with an emphasis on cybersecurity and system reliability. In August 2024, Bosch launched an India-based assembly line for their FLEXIDOME IP Starlight camera series, signalling commitment to the South Asian market.
Strengths: Rock-solid reliability, strong encryption standards, NDAA-compliant, preferred in critical infrastructure.
Limitations: Premium pricing; limited relevance for residential and SMB tiers.
Origin: US | Positioning: Enterprise cloud & analytics
Motorola acquired Ava Security in October 2025 for USD $445 million to deepen its cloud analytics portfolio. Their Avigilon Alta platform offers a fully serverless, cloud-native VMS. In March 2026, Motorola announced a partnership with GrapheneOS Foundation and unveiled enterprise-grade device security and analytics capabilities at MWC 2026.
Strengths: Strong cloud-native play, broad enterprise relationships, US compliance safe.
Limitations: Premium pricing; less mature in hardware-only camera sales compared to Hikvision/Dahua.
| Brand | Product | Segment | Key Differentiator |
|---|---|---|---|
| Seagate | SkyHawk / SkyHawk AI | Surveillance HDD | Drive Health Management, RV sensors, 550 TB/yr AI workload |
| Western Digital | WD Purple / WD Purple Pro | Surveillance HDD | AllFrame technology, 180 TB/yr, widely available |
| Toshiba | S300 | Surveillance HDD | Competitive pricing, supports up to 64 HD cameras |
| QNAP | NAS appliances | NVR/NAS | Software-rich, suitable for hybrid local+cloud setups |
| Synology | NAS appliances | NVR/NAS | Strong VMS software, popular for SMB and prosumer |
| Samsung | 870 QVO / 990 Pro | SSD | Speed-critical workloads; higher cost-per-TB |
| Platform | Vendor | Positioning | Notable Feature |
|---|---|---|---|
| Rhombus | Rhombus Systems | Cloud-native leader | Cloud-edge architecture; no NVR required |
| Avigilon Alta | Motorola Solutions | Enterprise serverless | AI analytics, fully cloud-managed |
| Verkada | Verkada | Turnkey proprietary | Easiest deployment; closed ecosystem |
| Security Center SaaS | Genetec | Hybrid enterprise | Open platform; extensive third-party integrations |
| Arcules | Milestone Systems | Cloud-native analytics | Works with existing ONVIF cameras; operational intelligence |
| OnCloud | Hanwha Vision | Multi-vendor cloud | AI search; launched May 2025; multi-brand compatible |
| Brivo | Brivo (post Eagle Eye merger) | Access + video | Unified access control and video management |
| Dimension | Hikvision | Dahua | Axis | Hanwha Vision | Motorola/Avigilon |
|---|---|---|---|---|---|
| Price tier | Low–Mid | Low–Mid | High | Mid–High | High |
| AI capability | Strong | Strong | Strong | Strong | Strong |
| NDAA compliance | ✗ No | ✗ No | ✓ Yes | ✓ Yes | ✓ Yes |
| Cloud/VSaaS | Limited | Limited | Growing | OnCloud (2025) | Avigilon Alta |
| Best for | Volume, SMB, global | SMB, budget | Gov, enterprise | Enterprise, US/AU/JP | Enterprise cloud |
| India availability | ✓ Widespread | ✓ Widespread | ✗ Limited | ✓ Available | ✗ Limited |
The bitrate a camera produces is the primary driver of storage consumption. This varies by codec, scene complexity, and quality settings configured in the NVR/DVR.
| Camera | Codec | Bitrate Range | Relative Efficiency |
|---|---|---|---|
| 2MP (1080p) | H.264 | 2–4 Mbps | Baseline |
| 2MP (1080p) | H.265 | 1–2 Mbps | ~50% reduction vs H.264 |
| 5MP | H.264 | 4–8 Mbps | Baseline |
| 5MP | H.265 | 2–4 Mbps | ~50% reduction vs H.264 |
Note: H.265 (HEVC) delivers approximately 50% greater compression efficiency than H.264 at equivalent visual quality. Most modern NVRs and IP cameras support H.265 natively.
| Codec | Bitrate | 14-Day Storage Required |
|---|---|---|
| H.264 | 2 Mbps | ~302 GB |
| H.264 | 4 Mbps | ~605 GB |
| H.265 | 1 Mbps | ~151 GB |
| H.265 | 2 Mbps | ~302 GB |
Practical guidance: A 1TB surveillance drive is sufficient for a standalone 2MP camera under any codec configuration.
| Codec | Bitrate | 14-Day Storage Required |
|---|---|---|
| H.264 | 4 Mbps | ~605 GB |
| H.264 | 8 Mbps | ~1.21 TB |
| H.265 | 2 Mbps | ~302 GB |
| H.265 | 4 Mbps | ~605 GB |
Practical guidance: A 5MP camera on H.264 at high quality can breach 1TB; a 2TB drive is recommended as a minimum.
| Configuration | 2MP Storage | 5MP Storage | Combined Total |
|---|---|---|---|
| Both cameras — H.264 (low bitrate) | ~302 GB | ~605 GB | ~907 GB |
| Both cameras — H.264 (high bitrate) | ~605 GB | ~1.21 TB | ~1.81 TB |
| Both cameras — H.265 (low bitrate) | ~151 GB | ~302 GB | ~453 GB |
| Both cameras — H.265 (high bitrate) | ~302 GB | ~605 GB | ~907 GB |
Continuous 24/7 recording represents the absolute worst-case storage scenario. Motion-triggered recording substantially reduces footprint in environments where camera activity is not constant.
| Recording Mode | Storage Reduction | Typical Use Case |
|---|---|---|
| Continuous (24/7) | None (baseline) | High-security, commercial, compliance |
| Motion-triggered | 60–80% reduction | Residential, low-traffic areas |
| Scheduled recording | Variable | Business-hours only environments |
Example: A worst-case H.264 dual-camera setup at ~1.81 TB under continuous recording could drop to as low as ~362–725 GB under motion-triggered mode — comfortably fitting on a single 1TB drive.
Standard desktop HDDs are not recommended for CCTV/NVR workloads. Surveillance-grade drives are purpose-built with firmware optimised for continuous sequential writes, sustained throughput, and multi-drive vibration tolerance.
Recommended drive families:
| Brand | Model | Max Capacity | Workload Rating | Notes |
|---|---|---|---|---|
| Seagate | SkyHawk | Up to 8TB | 180 TB/year | Standard surveillance; includes Drive Health Management |
| Seagate | SkyHawk AI | Up to 20TB | 550 TB/year | AI-enabled; supports 16 AI streams + 64 HD cameras |
| Western Digital | WD Purple | Up to 18TB | 180 TB/year | AllFrame technology; widely available in India |
Key spec to look for: A workload rating of at least 180 TB/year — roughly 3× that of a standard desktop drive — is the minimum for 24/7 surveillance recording.
Approximate 2026 street pricing for Seagate SkyHawk and WD Purple surveillance-grade HDDs in the US market.
| Capacity | USD Price Range | Notes |
|---|---|---|
| 2TB | USD $80–$90 | Seagate SkyHawk 2TB retails ~$79–$85 |
| 4TB | USD $100–$135 | Enterprise 4TB (e.g., Seagate Exos) at $129–$135; consumer SkyHawk/WD Purple ~$100–$120 |
| 8TB | USD $150–$200 | Recommended for multi-camera systems requiring headroom |
Market context: The global 4TB HDD market has seen a 12–15% price increase in early 2026 driven by AI infrastructure demand and supply chain constraints. Prices for consumer surveillance-grade drives (SkyHawk, WD Purple) remain more stable than enterprise equivalents.
Approximate 2026 street pricing for Seagate SkyHawk and WD Purple in the Indian market.
| Capacity | INR Price Range | Notes |
|---|---|---|
| 2TB | ₹6,500–₹9,000 | SkyHawk and WD Purple similarly priced |
| 4TB | ₹10,000–₹14,000 | SkyHawk typically ₹500–₹1,000 cheaper at this tier |
| 8TB | ₹18,000–₹25,000 | WD Purple edges ahead on higher-workload models |
For Indian buyers: Seagate SkyHawk generally offers better cost-per-TB at the 2TB and 4TB tiers. Both brands maintain service centres in major Indian cities. Purchase from authorised dealers to ensure GST invoice and warranty validity.
| Use Case | Codec | Drive Size | USD Cost | INR Cost | Rationale |
|---|---|---|---|---|---|
| Budget / residential | H.265 | 2TB | USD $80–$90 | ₹6,500–₹9,000 | Best case ~453 GB; 2TB provides ample headroom |
| General purpose | H.264 or H.265 | 2TB | USD $80–$90 | ₹6,500–₹9,000 | Covers H.265 worst case (~907 GB) comfortably |
| Full H.264, no compromise | H.264 | 4TB | USD $100–$135 | ₹10,000–₹14,000 | Worst case ~1.81 TB; 4TB provides buffer and upgrade room |
| Future-proofed / multi-camera expansion | H.264 or H.265 | 4–8TB | USD $100–$200 | ₹10,000–₹25,000 | Accommodates resolution upgrades, additional cameras, or longer retention |
The structural forces reshaping the surveillance industry — cloud adoption, AI integration, regulatory compliance pressure, and a commoditising hardware tier — are creating distinct, addressable business opportunities. Five opportunity categories are identified below.
Model: Design, supply, and install complete NVR-based surveillance systems for residential and SMB clients.
Description: This is the most established route to market. An integrator sources cameras, NVRs, and surveillance-grade storage drives, bundles them into a configured solution, and installs on-site. Margin is generated on hardware markup and installation labour. Recurring revenue comes from maintenance contracts and drive replacements (typically every 3–5 years).
Why now: Hardware is commoditising, but expertise in system design, codec optimisation (H.265 migration), and storage sizing remains a differentiated skill. The shift away from Hikvision and Dahua in Australia and other NDAA-aware markets is creating immediate demand for integrators who can recommend and deploy compliant alternatives (Axis, Hanwha Vision, Bosch).
| Factor | Details |
|---|---|
| Target customers | Residential, retail, hospitality, small offices |
| Hardware mix | Dahua or Axis cameras + WD Purple / SkyHawk HDDs + QNAP or Synology NAS |
| Revenue model | Hardware margin (15–35%) + installation fees + annual maintenance |
| Entry cost | Low — no proprietary platform required |
| Key risk | Margin compression as hardware commoditises; price competition from DIY kits |
| Estimated deal size | AUD $800–$5,000 residential; AUD $3,000–$30,000+ commercial |
Model: Resell or white-label an existing VSaaS platform (e.g., Milestone Arcules, Genetec SaaS, Hanwha OnCloud) under your own brand, targeting SMBs and multi-site businesses.
Description: VSaaS eliminates the need for customers to manage on-premises NVR hardware. The reseller earns a recurring commission or margin on the monthly/annual subscription, which is typically priced per camera per month. This is the fastest-growing segment in the surveillance market, growing at 16–19% CAGR and valued at USD $7.8 billion in 2026.
Why now: The VSaaS market is growing rapidly but remains fragmented at the SMB tier — large platform vendors (Verkada, Rhombus) are targeting enterprise clients, leaving the SMB and mid-market relatively underserved by channel-focused resellers. The switch from capex (NVR hardware) to opex (subscription) is particularly attractive to small businesses managing cash flow.
| Factor | Details |
|---|---|
| Target customers | SMBs, retail chains, multi-site offices, strata/body corporates |
| Platform options | Milestone Arcules, Genetec Security Center SaaS, Hanwha OnCloud, Verkada |
| Revenue model | Monthly recurring per-camera fee (typically USD $3–$15/camera/month) |
| Entry cost | Medium — platform certification/partnership required |
| Key risk | Dependency on platform vendor; churn risk if customer moves provider |
| Estimated ARR per customer | USD $360–$3,600/year for a 10-camera SMB client |
Model: Offer a fully managed, end-to-end security monitoring package — hardware supply, installation, storage management, remote monitoring, and annual health checks — as a recurring subscription.
Description: This is a higher-margin, stickier model than pure hardware reselling or VSaaS reselling. The business owns the customer relationship holistically: it supplies and installs the hardware, manages storage (either on-premises or hybrid cloud), monitors footage remotely, and handles all maintenance. The customer pays a fixed monthly fee and has zero infrastructure burden.
Why now: The SMB market is largely underserved by managed security providers who specialise in camera systems. IT managed service providers (MSPs) are beginning to expand into physical security, but the market is nascent. A specialist MSaaS provider targeting a vertical (e.g., hospitality, retail, healthcare) can build deep expertise and strong retention rates.
| Factor | Details |
|---|---|
| Target customers | Hospitality, retail, warehousing, healthcare — SMBs with 2–20 cameras |
| Service bundle | Hardware supply + installation + NVR/cloud storage + remote monitoring + annual check |
| Revenue model | Monthly fixed fee per camera or per site |
| Entry cost | High upfront (hardware float); recovers over 12–24 months of subscription |
| Key risk | Churn if customer terminates contract before hardware payback; monitoring staff costs |
| Estimated MRR per site | AUD $150–$600/month per site (4–16 cameras) |
Model: Specialise in replacing Hikvision and Dahua systems with compliant alternatives (Axis, Hanwha Vision, Bosch) in US and Australian government, defence, and regulated commercial environments.
Description: Section 889 of the US NDAA and the FCC Covered List prohibit federal agencies and contractors from purchasing Hikvision and Dahua equipment. Australia and Japan adopted similar bans in 2025. US military facilities must replace all non-compliant cameras by 2027 — a USD $1.2 billion replacement programme. This creates a time-bound, high-urgency opportunity for integrators who can deliver NDAA/TAA-compliant systems at scale. Compliant alternatives from Axis and Hanwha cost 20–35% more than the Chinese incumbents, but the regulatory mandate removes price as the primary decision criterion.
| Factor | Details |
|---|---|
| Target customers | US/AU government contractors, defence adjacent businesses, regulated industries |
| Hardware mix | Axis Communications, Hanwha Vision, Bosch Security |
| Revenue model | Project-based integration + ongoing support contracts |
| Entry cost | Medium-High — requires vendor certification and compliance documentation |
| Key risk | Competition from established US defence integrators; extended procurement cycles |
| Urgency | High — US military replacement deadline is 2027 |
Model: Offer a targeted upgrade service to existing H.264 installations — migrating to H.265-capable NVRs and cameras to halve storage costs without replacing the entire system.
Description: A significant proportion of installed surveillance systems globally are still running H.264. Given that H.265 reduces storage consumption by approximately 50% at equivalent quality, a migration can eliminate the need to buy a larger drive or add a second storage device — paying for itself rapidly. This is a consultative, low-hardware, high-expertise service that can be offered as a standalone engagement or as a lead-in to a broader system refresh.
| Factor | Details |
|---|---|
| Target customers | Businesses with 2–3+ year old H.264 NVR systems running out of storage capacity |
| Service offering | System audit, NVR firmware update or replacement, codec reconfiguration |
| Revenue model | Fixed-fee audit + upgrade project |
| Entry cost | Very low — no hardware inventory required |
| Key risk | Limited recurring revenue; service is largely one-time per customer |
| Estimated project value | AUD $300–$2,500 per site |
| Opportunity | Revenue Model | Margin Profile | Recurring? | Entry Complexity | Market Timing |
|---|---|---|---|---|---|
| 1. On-premises integration | Hardware + labour | Medium (15–35%) | Partial (maintenance) | Low | Now |
| 2. VSaaS reselling | Per-camera subscription | Low-Medium (15–25%) | ✓ Yes | Medium | Now – 2028 |
| 3. Managed MSaaS | Monthly site fee | High (40–60%) | ✓ Yes | High | Now – 2028 |
| 4. NDAA-compliant integration | Project-based | High (20–40%) | Partial | Medium-High | Now – 2027 |
| 5. H.265 migration | Fixed-fee project | High (50–70%) | ✗ No | Low | Now |
Technical:
Strategic:
| Camera | Codec | Bitrate | 14-Day Storage | Minimum Drive | USD Drive Cost | INR Drive Cost |
|---|---|---|---|---|---|---|
| 2MP | H.264 | 2 Mbps | ~302 GB | 1TB | ~USD $50–$60* | ~₹4,000–₹5,500* |
| 2MP | H.264 | 4 Mbps | ~605 GB | 1TB | ~USD $50–$60* | ~₹4,000–₹5,500* |
| 2MP | H.265 | 1 Mbps | ~151 GB | 1TB | ~USD $50–$60* | ~₹4,000–₹5,500* |
| 2MP | H.265 | 2 Mbps | ~302 GB | 1TB | ~USD $50–$60* | ~₹4,000–₹5,500* |
| 5MP | H.264 | 4 Mbps | ~605 GB | 2TB | USD $80–$90 | ₹6,500–₹9,000 |
| 5MP | H.264 | 8 Mbps | ~1.21 TB | 2TB | USD $80–$90 | ₹6,500–₹9,000 |
| 5MP | H.265 | 2 Mbps | ~302 GB | 1TB | ~USD $50–$60* | ~₹4,000–₹5,500* |
| 5MP | H.265 | 4 Mbps | ~605 GB | 1TB | ~USD $50–$60* | ~₹4,000–₹5,500* |
| Both — H.264 (worst case) | H.264 | 4+8 Mbps | ~1.81 TB | 4TB | USD $100–$135 | ₹10,000–₹14,000 |
| Both — H.265 (best case) | H.265 | 1+2 Mbps | ~453 GB | 2TB | USD $80–$90 | ₹6,500–₹9,000 |
* 1TB surveillance-grade drive pricing is estimated; verified market data sourced for 2TB and above.
Report prepared 20 May 2026. All storage estimates assume continuous 24/7 recording at stated bitrates. Pricing is indicative and subject to retailer and market variation. INR pricing sourced from Indian retail and wholesale market data (2026). USD pricing sourced from US retail market data (2026). Market data sourced from MarketsandMarkets, Fortune Business Insights, Mordor Intelligence, Spherical Insights, and Research and Markets (2025–2026).