How can we manage and increase service limits automatically?
Use AWS trusted advisor to track the service limits and notify if service limits are reaching, then trigger AWS Lambda to increase the service limit (maybe through an API call to Service Quotas)
Is this solution possible? If not, how can we manage and increase service limits automatically?
There is a relatively new feature AWS has put out to manage service limits called "My Service Quotas"
You can find it by clicking on your login name/role in the upper right hand corner and the drop down will list "My Service Quotas" which you can select and see your all of your services and limits and request increases where you want.