VPS/VDS - Virtual Dedicated server
The virtual private server has its own CPU, Memory, OS, and other systems You’d still have other users sharing the server, but on the bright side, you’d have less of them, and using the server resources will not impact your website stability. Guaranteed security of your data and a pool of resources falling just behind ones of a physical dedicated server, but for a much lower cost. All of that is the main advantage of VPS/VDS hosting.
The cost of such a hosting service heavily depends on the number of resources that you intend to use. But the total pricing of VPS/VDS service could include additional features that the provider offers, swaying the full cost higher. So when you are presented with a choice between different providers, you should already have your requirements in mind
VPS/VDS will require more technical skills and knowledge to operate it. In case you don't have that type of knowledge or you don't have a suitably skilled person in your team, then you should contact a hosting provider that offers the service of managing your server. That feature can be a free one as well as a paid one. A free server management service includes: Migrating your website from a different platform, server monitoring, installing(or reinstalling) an OS, control panel and additional software, and DDoS attack protection. Usually, paid service offers almost a full degree of management, leaving the actual site contents to you.
The resources of this type of hosting are expected to be utilized in larger projects.