Shared hosting simply means that you are sharing the physical server with other users. In a shared hosting environment, each user has a separate account on the server, however, all users on the server 'share' the server's resources (RAM, CPU, etc). Other options include: Virtual Private Server (VPS) and Dedicated hosting, both of which give you access to your very own server.
With dedicated hosting, you rent the entire physical server all to yourself, and do not have to worry about sharing server resources with any other users. This is useful for performance/security/privacy considerations. VPS is essentially a bridge between shared hosting and dedicated hosting, and is the ideal option for clients who need their very own server but do not want to incur the huge costs associated with renting a dedicated server. While a dedicated server gives you access to physical hardware resources on the server, a VPS, on the other hand, gives you access to virtualized (software-based) resources i.e. vCPU, vRAM, etc, which ultimately still rely on the underlying physical server's resources. However, these resources are dedicated to you and you alone, and aren't shared with any other users. Furthermore, your virtual server is isolated from other virtual servers residing on the physical server, hence you do not have to worry too much about the activities of another user impacting your server.
The choice and/or specifications of a server would ultimately depend on the specific project requirements, and is typically based on the intended content (website, application, etc) to be hosted on the server. In general terms, however, a dedicated server would be the perfect choice for any project, as this offers the full compliment of the server's resources - that is to say, you do not share the server's physical resources with any other user. Additionally, you can install virtually anything you want on the server, and have the ability to determine how server resources are utilized without the restrictions typically associated with shared hosting.
Darrel Technologies offers both VPS (Linux or Windows) and dedicated hosting solutions. Our VPS and dedicated hosting plans can be found at the links below: