Serverless
Used to store parameters & secrets
Parameter versioning
Seamless Encryption with KMS for encryption and decryption of stored secrets
Parameters are stored in hierarchical fashion which simplifies granting IAM permissions to applications to access them

| Standard Tier | Advanced Tier | |
|---|---|---|
| Number of parameters | 10,000 | 100,000 |
| Max parameter size | 4KB | 8KB |
| Parameter Policy | Not supported | Supported |
| Cost | Free | Paid |