Have you considered using Laravel Vapor to deploy serverless and store your data on AWS RDS or Aurora? This will certainly prevent the growing pains going forward as things grow.
Laravel on the cloud
I'm putting together a proposal for a new project - it will involve a lot of data being written each day into a MySQL database, rumoured to be around 3-4GB.
We also need to implement a web front end to display the data in various ways.
I'd like to use Laravel ... and have everything on the cloud using AWS or Azure.
I've done a fair bit of reading on both, but can't decide which is going to be the better option. Any opinions would be very welcome! We could also use a regular hosting service, but we have a requirement that is pushing us towards the big two.
I highly recommend AWS, with an RDS instance. I've used that for some pretty big projects and as Chris said it's super easy to scale up. Plus with AWS you will have access to all their other services (ElasticSearch, Lambda) I would say it's worth it.
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