Web hosting is basically the space you buy on a web server to store website files. When you buy a website hosting, you basically rent server space on the server where your network files are located. So, as long as someone finds your site by entering your domain name, they will go to your website. You can design a website on your own, but unless you upload it to a managed server that no one can access it.
Web hosts typically charge for the services they present. You as a user can also have their own mature server in their own home, but the main difference between investing in your own server and choosing a hosting company is that designing your own server can cost you a lot. To set up the server, you need a powerful computer with a good processor and a lot of RAM and operating systems like Linux or Windows. In addition, you need the technical skills to manage and run your server.
When you hire a web hosting company, it manages all backed issues, including server maintenance and repair. So basically, the web host is designed to save you trouble and make your life easier.
Although there are a variety of hosting services available, it is not recommended to buy expensive things. Through some research, people can get good web hosting services at an affordable price. You should not be deceived to buy more than what you actually need. If your site starts generating a lot of traffic, you can always upgrade your hosting plan.