Less than a 500 visitors per day
Shared hosting is usually for smaller websites, with less than 500 visitors per day. Your website is on one big server, together with other clients. You share the servers hardware and software and costs, and that is why the price is relatively low.
The biggest advantage of Shared (besides the low price) is that it includes a lot of extras. On a Shared server you automatically get your Cpanel control panel, Email, Domain name, Statistics and a lot of extra software like WordPress. Check the list below.
On a Dedicated, VPS, or Cloud server you would have to pay extra for all that.
Cpanel, the best control panel