Is vps good for streaming videos or I need a dedicated server to do it as it has a dedicated resources as compared to vps.
It depends on various factors like what software you are using, what type of encoders you are using, what would be the average RAM usage per viewer etc. So you should really do some research based on number of viewers you expect to come to a better conclusion.
Obviously if budget is not a problem, then deducated server is the right choice but i m afraid that might not be enough. U might still need a CDN.