Because CentOS is the free version of Redhat Enterprise Linux (RHEL), it does not come with any support by default, like you might expect from RHEL. That said, there are many third parties who are capable of supporting CentOS. Your hosting provider can certainly provide support for you, or if you need additional assistance, you can always contract with one of many third party management companies.
A dedicated server solution is perfect for complex, high-volume websites that require serious amounts of processing power and storage. Some examples of websites that may require this service could be sites that have been around for a while and generated tons of pages and media, multiplayer video game servers for your own pet project, voice or video chat servers, or any other project requiring peak performance at all moments. In essence, if you need a lot of storage, processing power, and/or bandwidth, you need a dedicated server.
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