Shared hosting is a good option for small business sites, but it’s probably not the best if you need a ton of bandwidth or have control over your own resources. In addition, many sites realize with additional traffic, they have bigger hosting needs. The next step up from shared hosting is a virtual private server or VPS. Since sites constantly share resources, a site may outgrow a shared host and begin to hog resources, in which case they must upgrade to VPS hosting. In fact, other hosts like GoDaddy may remove a site for hogging up resources or force a site to upgrade to dedicated hosting (aka dedicated server) or VPS.
Dedicated hosting is typically for very large websites that need a lot of resources. They have their own server, which they purchase. It can handle any type of traffic and the owner has complete control. over the machine, which allows that site to host other sites as desired. The cost can be expensive for dedicated servers, but there are some cheaper dedicated hosting options.