https://www.maximizemarketresearch.com/market-report/global-hardware-security-module-market/55244/ Hardware Security Module Market size is estimated to grow at a CAGR of 10.48%. The market is expected to reach a value of US $ 2.84 Bn. in 2030. Hardware Security Module Market Overview and Dynamics: A hardware security module (HSM) is a dedicated crypto processor that is meant to secure crypto keys over their entire existence. To maintain customer trust in the digital era, businesses need hardware security components. They'll make sure the system is completely safe from cyber-attacks. Banking and financial companies created a big demand for hardware security modules to protect the payment process using credit and debit cards from major corporations such as MasterCard and Visa. Hardware Security Module Market Segment Analysis: Based on Application, authentication segment is estimated to account for xx% of the total market share in 2021 and is expected to grow at the highest CAGR of 12% during the forecast period. This growth is attributed to the using HSMs for the authentication application offers organizations with the ability to enforce different levels of authentication, depending on user activity & transaction value. By Development, the cloud segment is expected to grow at the highest CAGR of 11.52% during the forecast period. Using a cloud-based HSM, one can quickly produce their own encryption keys. The flexibility of Cloud HSM allows it to integrate with applications such as APIs, Java Cryptographic Extension, and others. Futurex LP announced the deployment of the industry's first online API for payment HSM in January 2021. It's made to work with Futurex's enterprise encryption and key management solutions, such as the Payment app. VirtuCrypt, a cloud payment HSM by Futurex.