What is Managed Hosting?

This question is raised by newcomers and seasoned professionals, alike. The ambiguous nature of Managed Hosting has more to do with hosting providers delivering additional managed services, than it has to do with an unclear definition.

We can simply define Managed Hosting as a form of Dedicated Hosting. The servers and devices are owned by the Internet Service Provider (ISP) or hosting provider and leased by a single client only. Unlike standard Dedicated Hosting, the ISP manages the day-to-day management of hardware, operating systems and standardized applications. Customers retain have root/admin access, but rarely use it. Their access to their managed hosting environment servers is typically limited to managing websites and applications through online tools.

Typically built into Managed Hosting are technical services such as hardware and software setup and configuration, maintenance, hardware replacement, technical support, patching, updating and monitoring. Also available, usually at additional cost, are advanced services like vulnerability scans, DDoS attack mitigation, data backups, load balancing, firewalls, intrusion detection and more.
Each Managed Hosting provider is unique, so what services come standard can vary