Web Hosting has grown from fairly humble roots to become the multibillion-dollar industry it is today.
Cloud hosting is undoubtedly the future of the web hosting industry as the demand for it begins to outstrip traditional shared server hosting, which has started to become outdated. The scalability constraints and general inefficiency of shared hosting.
Then there are VPS packages, in my experience are generally woeful and unreliable. I run my sites from a dedicated server, it seamed like this was the most reliable way of hosting one or more sites, the trade off undoubtedly being price.