In very simple words let us take an example: If you are going to construct a building, you need to buy a land. In the same way, consider the website as a building you need to build or say you need to develop a website, same way you need some space where it can be developed and executed. This space is known as Web Space or Web Hosting.
When you make a website and want other people to see it, you will need to publish (or upload) it with a web hosting service.
Web hosting services work by storing your website files in high-powered computers (web servers) connected to a very fast network. When someone types in your web address (such as www.bluehost.com), the Internet connects to the web server holding your website files and then transfers your website information back to their computer. From there they can surf and view the pages of your website.
Anything related to managing these servers and its software, security, support, bandwidth, speed and so much more, is what we are all about! Because we provide web hosting services to over a million websites, we have special data centers that are built from the ground up to serve the purpose of web hosting.
Note: I recommend you to read an ultimate guide on How Web Hosting Works?