Shared Web Hosting:

Shared hosting is web hosting in which multiple sites are hosted on a single server, so each account ends up “sharing” server space with other accounts. Although Shared hosting is a less expensive way for businesses to create a Web presence, it is usually not sufficient for Web sites with high traffic. Shared hosting is best for the normal websites and smaller ecommerce websites.

VPS Hosting:

VPS technology presents multiple isolated server environments on a single physical server. Each VPS uses its own disk space, RAM, CPU, IP addresses and it can be rebooted independently. Each VPS performs and executes exactly like a stand-alone server. In nearly every perspective you can see a VPS as if its a dedicated server.