There are various types of web hosting:
Shared Hosting is the most popular and common. In this type of hosting a single server shared by many customers and is used as per plan.
VPS (Virtual Private Server) is another very common type of web hosting. In VPS hosting environment, every user has their own virtual machine.
Dedicated Server is a type of Internet hosting service in which an organization rent a complete web server, which is usually housed in a highly secured data center.
Cloud Hosting is the modern and newest form of hosting service that has gained more popularity over the past few years.The resources needed for managing your web pages are distributed beyond many web server, and are delivered as per need basis.