Sites Hosted on the Server: With a shared hosting package, there are other organizations that host their sites on the server, right alongside your organization. A dedicated hosting plan means that your organization is the only user hosted on the server.
Bandwidth & Disk Space: With shared hosting, the amount of disk space and bandwidth you are allotted is limited since there are others sharing the server. You will be charged more if you surpass your allotted amount of bandwidth, and penalized if you exceed your amount of disk space – just like a utility. Even if you’ve fairly purchased resources, some hosts will add extra rules to penalize you for having elements like videos or music—regardless of whether you hit your bandwidth cap! With dedicated hosting, bandwidth and disk space are dedicated entirely to your organization and its server. There’s no resource sharing, so limitations on the amount of disk space and bandwidth are up to your organization’s requirements.
Costs: With shared hosting, the server’s resources are shared among several users – so operating costs are divided up among the users. This makes shared hosting more affordable, and ideal for smaller organizations or businesses just beginning to establish their web presence. Because a dedicated server is dedicated solely to one user, it costs more. However – there’s a benefit! With a dedicated server, you’ve got far more operational flexibility to deal with traffic spikes, customize your server or install specialized software to meet your needs.
Required Technical Skill: With shared hosting, your organization doesn’t need a staff with specialized technical skills. Maintenance, administration and security are managed by the shared hosting provider. This dramatically simplifies operating the server. The tradeoff is that it limits what your organization can do. With your own dedicated server, your organization should anticipate needing IT & webmaster skills to set up, install, administer and manage the server’s overall health. If that’s too daunting for your organization because of time or money constraints – but you still need the power and space of a dedicated server – fully managed dedicated hosting plans are available at a higher cost. Fully managed dedicated hosting plans are more expensive than collocated dedicated servers. However, it’s important to understand that the cost of managed services is typically still far less than building, staffing and onboarding your own IT department.

I hope this comparison will be helpful!
Mark Wilson