VPC peering comes with the major benefit of improving security by enabling private connectivity between two or more VPC networks, isolating traffic from the public Internet. Because your traffic never leaves the cloud provider's network, you reduce a whole class of risks for your stack. Save money on network costs.
What is the use of peering?
Peering is a process by which two Internet networks connect and exchange traffic. It allows them to directly hand off traffic between each other's customers, without having to pay a third party to carry that traffic across the Internet for them.
Why do we need VPC peering?
A VPC peering connection helps you to facilitate the transfer of data. For example, if you have more than one AWS account, you can peer the VPCs across those accounts to create a file sharing network. You can also use a VPC peering connection to allow other VPCs to access resources you have in one of your VPCs.