Is SVG still used?

In the ever-evolving landscape of web design and graphics, does SVG, the Scalable Vector Graphics format, still hold its relevance? With the advent of newer technologies and formats, has SVG become outdated or is it still a valuable tool for web developers and designers? Its ability to scale seamlessly and maintain clarity across various screen sizes makes it an attractive option, but is it still widely utilized today? Could you elaborate on the current state of SVG in the digital design industry and whether it's a technology worth investing in?