The term ‘shared hosting’ is often used to refer to regular, cheaper hosting plans. It simply means that your website shares its resources with other websites on the same server.
In contrast, Managed Hosting usually refers to a hosting package that includes some extra management services – for example, the host agrees to help you manage daily backups, or automatically install security updates for your website.
It’s very possible for managed hosting to utilize shared hosting architecture. Or, it may be hosted on shared, dedicated, VPS and cloud servers instead. This means that managed hosting can also come in a range of budgets.