Shared hosting is the most suitable option for beginners, small websites like personal blogs, simple websites as well as it is the most elementary form of web hosting available. It is the cheapest hosting plan of all which will be advantageous to smaller businesses. With shared hosting, you share a server with other clients of your hosting provider. All websites will share the same server resources, such as RAM (random access memory) and CPU (central processing unit).
VPS can be chosen when a client website starts growing (attracts bigger traffic). A virtual private-service mimics a dedicated server (your web host allocates a separate partition for you on the server) but within a shared hosting environment. This means you get a dedicated server space and a reserved amount of computing power and memory. By choosing VPS, you get more customization and control options. It requires a lot more knowledge and effort on your end. So, if you are not advanced in the development field, it's not recommended to get VPS. The cost for a VPS is higher than the cost for shared hosting, but not as expensive as running a true dedicated server. But you can choose some cheap VPS hosting.
Dedicated is used for a huge amount of traffic and gives you full root and admin access control. You aren't sharing the server in any capacity, so you can, essentially, do what you want with it. However, dedicated hosting requires a good deal of technical knowledge.
Cloud offers remarkable advantages from scalability to setup to security. The resources required to maintain your website are spread across more than one web server, which reduces the chances of downtime, making it the most reliable solution on the market. Cloud hosting is scalable, which means you can grow your site using as many resources as possible and only pay for what you need.
Reseller hosting offers an opportunity to resell hosting services to your clients. Once you buy a reseller hosting package at a wholesale price, you can set the price that you want and sell that hosting under your name and brand to others. Therefore, you are able to have your own web hosting firm.