The phenomenon of photon upconversion (UC), generating high-energy photons from low-energy photons, has attracted significant attention. In particular, triplet-triplet annihilation-based UC (TTA-UC) has been achieved by combining the excitation states of two types of molecules, called the sensitizer and emitter (or annihilator). With TTA-UC, it is possible to convert weak, incoherent near-infrared (NIR) light, which constitutes half of the solar radiation intensity, into ultraviolet and visible light that are suitable for the operation of light-responsive functional materials or devices such as solar cells and photocatalysts. Research on TTA-UC is being conducted worldwide, often employing materials with high intersystem crossing rates, such as metal porphyrins, as sensitizers. This review summarizes recent research and trends in triplet energy transfer and TTA-UC for semiconductor nanoparticles or nanocrystals with diameters in the nanometer range, also known as quantum dots, and for ligand-protected metal nanoclusters, which have even smaller well-defined sub-nanostructures. Concerning nanoparticles, transmitter ligands have been applied on the surface of the nanoparticles to efficiently transfer triplet excitons formed inside the nanoparticles to emitters. Applications are expanding to solid-state UC devices that convert NIR light to visible light. Additionally, there is active research in the development of sensitizers using more cost-effective and environmentally friendly elements. Regarding metal nanoclusters, methods have been established for the evaluation of excited states, deepening the understanding of luminescent properties and excited relaxation processes.
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