Amazon Web Services (AWS) is a leading provider in IaaS and PaaS for cloud computing, offering essential services like EC2 for server hosting, S3 for data storage, and Elastic Load Balancing for scalable performance. Key features include CloudFront for content delivery, Elastic Block Store (EBS) for low-latency storage, and Route 53 for DNS routing. AWS also provides monitoring through CloudWatch and optional services like Lambda and Elastic Beanstalk for enhanced cloud functionality.