A doubly linked list has two pointers ‘left’ and ‘right’ which enable it to traverse in either direction. Compared to singly liked list which has only a ‘next’ pointer, doubly linked list requires extra space to store this extra pointer. Every insertion and deletion requires manipulation of two pointers, hence it takes a bit longer time. Implementing doubly linked list involves setting both left and right pointers to correct nodes and takes more time than singly linked list.