Hosting is required to run your own website. Its essentially the address and location of your website on the internet. The web host is where all your website files sit.
Shared Hosting is the lowest cost and most popular hosting plan. Shared Hosting means your sharing space on the web server with other peoples websites. This means you share resources such as CPU time, memory, speed and disk space. Your website’s speed might decrease if another site on your shared server is using a lot of resources.
VPS Hosting or Virtual Private Server is a hosting plan that uses a virtual server to host your website. In this way you have your own Server and allocated resources so other websites will not impact the performance of your site.
“VPS hosting environments use one physical server, that can run several different virtualized operating systems on that one server. Each virtualized operating system acts as if it was a dedicated server. This allows you to have all of the benefits of a dedicated server at a fraction of the cost.”
Dedicated Hosting you get your own Server and do not share resources or space with anyone. Dedicated hosting allows full control over server and superior performance however is the most expensive hosting plan.