A company wants to host a scalable web application on AWS that will be accessed by users around the world. Users will upload and download unique files up to gigabytes in size. The development team wants a cost-effective solution that minimizes upload and download latency and maximizes performance. What should a solutions architect recommend?

Amazon S3 with Transfer Acceleration is the most suitable solution. S3 provides highly scalable and cost-effective object storage for the large files, and Transfer Acceleration significantly reduces upload and download latency for geographically dispersed users by routing traffic through AWS edge locations. This directly addresses the need for minimizing latency and maximizing performance for global users with large files. Using Amazon S3 with Cache-Control headers would help with caching content in browsers or CDNs, but it doesn't directly address the latency of the initial upload/download of large, unique files. Amazon EC2 with Auto Scaling and Amazon CloudFront would be good for a dynamic web application, but S3 is more cost-effective and scalable for hosting static content and large files, especially when combined with Transfer Acceleration for performance. Amazon EC2 with Auto Scaling and Amazon ElastiCache is designed for dynamic applications requiring caching of database queries or session data, not for optimizing large file transfers or static content hosting.