Dedicated Hosting Pros
1) You do not share the server resources or access with anyone. The web hosting provider issues and maintains a hardware box, and you are the only one with access to it. This means the maximum possible CPU and RAM of all “physical” web hosting options.
2) Does not require maintenance of the network, including uptime monitoring, very basic DDoS protection and general network security.
3) Does not require maintenance of the server hardware.
Dedicated Hosting Cons
1) Requires maintenance of everything software-related. Basically, you are being provided with just hardware, and installing and maintaining everything else – the operating system, the web, ftp and mail servers, database and other applications is up to you.
2) The overall cost of rental might exceed the cost of buying the hardware.
3) Hardware options are typically limited, you usually have options to add extra RAM and disk space, but your choice is rather limited in comparison to assembling a server yourself.