Web hosting used to be quite simple back in the day.

Most people would rent a space in a server via shared web hosting for their basic hosting needs.
As websites increase in traction, the owners would have to upgrade their plans either to get a virtual private server which is the cheaper option or go the full nine years and get a dedicated server. Also, the option of colocation hosting is also there when needed.
However, as the individual needs of the websites start to grow, the traditional web hosting means are not capable enough to scale with the ever-increasing demand.
Sure, web hosting companies have acquired a lot of servers over the years and it is due to this movement that there are now more servers than people who actually acquire hosting services.
With that being said, visionaries have come up with a unique way to consolidate these extra resources to pave the way for a more robust web hosting solution. As a result, cloud hosting was born.

Why Cloud Hosting is the Future

Because web hosting companies have acquired more servers than they have to, they are paying for more machines that are already considered as extra. Now, you could think of it as a hedge against possible resource outage, but the reality of it is that these resources are untapped at best. In other words, scalability is not the strongest suit when referring to traditional web hosting.
Cloud hosting is basically a network of different servers all over the world that create a vast web of hosting resources that can be used by people whenever they need it. In other words, you are only getting services that you actually pay for and nothing else.
As for web hosting companies, the paradigm has shifted from acquiring plenty of servers until there is a need for them to sharing server resources with other data centers to meet the ever-increasing demands of customers.
Look, people nowadays want to establish their own online presence and one way for them to do that would be to create their own websites. And, as you already know by now, websites can only be accessible if it is hosted by a web hosting company.

Cloud hosting is quite scalable because it consolidates all of the servers across different continents to work in unison. This means that the resources will be allocated to the servers that need it the most.
For instance, you have to consider peak hours where most people in certain parts of the world would be actively going online. Since many people are active at this time, the servers could be utilized to give more resources to those servers that cater to that part of the world and vice versa. This is definitely a clever solution that was only possible thanks to the evolution of cloud computing technology.
In conclusion, cloud hosting is definitely the best option when it comes to web hosting scalability, especially since the need for hosting services has increased through the years.