Hi,
You need to choose between two basic hosting types:
Managed (you don't need be a sysadmin or devops, its better)
Self-service ( I dont suggest this except if you are a sysadmin :) )
Then you should decide between server types:
VPS (your Magento store is hosted along with other Magentos on the same server, it can cause speed problems in peak times, but it's the cheapest soluton)
Dedicated Server (the most expensive solution but maximum speed guaranteed because you're the only owner of the server)
AWS (Amazon Web Services) hosting, a cloud based hosting service by Amazon, we prefer this one nowadays because of scalability. If you need more server capacity you can set more memory or CPU in a minute (you pay more according to increased traffic) but when you don't need it you can set it back to default lower server capacity (cheaper). >>> More detailed info about AWS
If you want to be safe, choose a Magento hosting provider (or a developer company that manages hosting for you) that can give you:
A staging server (to test every update and new development before going live)
A production server (this one is the live version)
And a full backup for every day (customer + product database and the orders)
If you find a hosting company that is a Magento developer company too, ask them about automatic versioning. If they use GitLab for every development task, that's good because they can roll back every new update if something goes wrong.
Ask the hosting provider about their experience / reference concerning e-stores with heavy traffic (at least thousands of visitors / day)