This report examines how the demand for, and supply of, data center and cloud services are impacted by global social, economic and political disruption. This paper has three main sections:

1. How have past disruptions shaped the direction of the industry, and what can be learned from them today?
2. How is the industry currently responding to the pandemic in terms of operations, design and planning, and how are the dynamics of supply and demand changing?
3. What are the likely medium- and long-term impacts of Covid-19 on the industry, and how will other projected disruptions, including climate crises and geopolitical conflicts, impact the sector?

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