Before you make a decision, you need to understand what your hosting needs are, as these hosting services differ in terms of performance and price.
In a shared hosting environment, several websites are put on to a single server. This way, the web host can reduce its cost, and services will be cheaper. Limitations include limits on storage and bandwidth, and the performance of your website is largely affected by the needs of the other websites, as you will be sharing the same server resources. This hosting service is ideal for websites that do not require a lot of bandwidth, disk storage, or CPU consumption.
In a dedicated hosting environment, your website is the only one hosted on the server. Because you are not sharing server resources with other websites, your limit is that of the server. This hosting service is for people who plan to run a very popular website, requires a lot of disk space or run scripts that requires more than average CPU consumption.