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As a result ArrayList is slower than LinkedList and the latter is preferred in case you need to perform insert and delete operations in the middle of a collection.LinkedList worked 200 times faster than ArrayList when 0.1 million elements were inserted at the start of the collection.
Linked lists can be used to implement stacks, queues, graphs, etc. Linked lists let you insert elements at the beginning and end of the list in O(1) time. This makes for efficient implementations of stacks, queues. Linked lists also remove the overhead of bothering about the size of the data structure. The size need not to be known in advance. They can also be used for the adjacency list representation of graphs. Hash tables with chaining is also possible. Well linked list is used in a lot of data structures.