Upconverting nanoparticles (UCNPs) are inorganic crystalline nanomaterials that can convert near-infrared (NIR) excitation light into visible and ultraviolet emission light. Excitation with NIR light minimizes autofluorescence background and enables deeper penetration into biological samples due to reduced light scattering. Although these optical features make UCNPs promising candidates for bioanalytical and biomedical applications, the performance of UCNPs is compromised by their low optical brightness. Research in the field of UCNP technology focuses on strategies to boost upconversion luminescence brightness and efficiencies. In this Perspective, I discuss challenges associated with the use of UCNPs and provide a 10-year proposed strategic plan to enable translation of UCNP technology from the academic stage into real world products and applications.