Parameter Store, a capability of AWS Systems Manager, now supports up to 10,000 transactions per second (TPS) for GetParameter and GetParameters APIs, increased from the previous 3,000 TPS limit. Parameter Store allows you to securely store configuration data and secrets as hierarchical key-value pairs. You can flexibly store parameters such as API keys, subnet IDs, and passwords, and you can reference those parameters in your code and through AWS services such as AWS Lambda, Amazon EC2, and AWS CloudFormation. This increased API limit makes it easier to use Parameter Store to support high-traffic applications and demanding workloads without sacrificing performance due to API throttling.
Source:: Amazon AWS