A web hosting service is a type of Internet hosting service that allows individuals and organizations to make their website accessible via the World Wide Web. Web hosts are companies that provide space on a server owned or leased for use by clients, as well as providing Internet connectivity, typically in a data center. Web hosts can also provide data center space and connectivity to the Internet for other servers located in their data center, called colocation, also known as Housing in Latin America or France.
On the topic of dedicated hosting, many web hosting services also offer managed hosting. This type of hosting sees the web host act as your IT department, handling a server's maintenance and upkeep. This hosting option is something that you'd typically find with dedicated servers, so it's a business-centric addition. Naturally, it adds a few bucks to the hosting cost, but nothing that should break the bank if you have the resources for a dedicated server.