  We present logistic dark energy model (LDEM), where the dark energy density
follows a logistic function for the scale factor. The equation of state
parameter of dark energy ($w_D$) transitioned from $-1$ in the distant past to
its current value of $-0.76$, closely resembling the $\Lambda$CDM model in the
early epoch and showing significant deviation in the late phase. The evolution
of the deceleration parameter in the LDEM signifies its success in explaining
the late-time cosmic acceleration. Model selection based on the Bayesian
Information Criterion (BIC), incorporating observations from Type Ia Supernovae
(SNe Ia), Observational Hubble data (OHD), and Baryon Acoustic Oscillation
(BAO) strongly favors the LDEM over the conventional $\Lambda$CDM model, where
BIC is estimated to be $\sim -20$. Incorporating the shift parameter derived
from the Cosmic Microwave Background (CMB) data shows competing evidence of the
LDEM over the standard $\Lambda$CDM. Remarkably, the Hubble constant ($H_0$)
value computed using any of the datasets tends to align closely with the
predictions from the Cosmic Microwave Background (CMB), suggesting a need to
reconsider the local measurement.
