What is the definition of logistic growth?

Growth that takes into account restraining factors.

In fact all growths are logistic. It is unconceivable to have unrestrained growth since such pattern would be explosive and suicidal for any population or activity.

In most live population, it is the environment that reacts to excessive growth by limiting the resources and by attracting predators. In the case of an industrial activity it is the competition (or obsolescence) that promptly comes in to share the temporary bonanza.

Typically, a logistic growth curve is ##S## shaped over time. It starts with a moderate increase that steepens to reach an exponential (or near exponential) rate.

As the restraining factors (such as mortality, famine, drought, dearth…) appear and take their toll, the curve flexes to more reasonable, sustainable rates to reach asymptotically the carrying capacity of the environment or industrial context. At that point growth is stabilised and, in the case of industrial growth, wound normally slow down and turn downward. Innovation is the only means to revitalise it and turn it upwards again