It is attempted to extrapolate to future developments in the field of thermal analysis, and, specifically, temperature modulated calorimetry (TMC), the latter being a subject that developed to prominence in the last 10 years. The predictions are made on the basis of the present techniques and on the need for the characterization of materials. Key issues are the advancement of the practice of TMC to quantitative calorimetry. Special topics mentioned are the analysis of nonequilibrium states and the characterization of nanophases. In instrumentation, the extensions of modulation to higher frequencies and the introduction of new techniques for smaller sample masses are discussed. One of the biggest needs is, however, to increase the teaching effort in this field, since many of the quantitative methods already available are not applied to the fullest because of a lack of qualified thermal analysts.