If  you are familiar with setting up a web hosting environment, want to host multiple domains, want more databases, emails and not eager to secure your WordPress website You can use a cPanel hosting account. It's easy to install WP on web hosting (just a click), but interacting with a control panel (cPanel) can be intimidating. With cPanel, you can manage the domain, DNS, setup, backups, speed optimization, security, log files - all through the control panel.
If you are more concern about your speed, your up-time, your security, and less time on software and security,  you need a managed WordPress hosting account.  MWP handles the setup and launches you directly into WP-admin to start building your site - no confusing extra control panel to deal with.
If your website need huge traffic, you need a managed WordPress hosting.