The results of high-pressure, low-temperature luminescence measurements of three InAsP-based multiple quantum well structures are reported for application as pressure sensors for diamond anvil cells working in the near-infrared spectral range. The multiple quantum well structures exhibit a much higher pressure shift of the luminescence lines as compared with ruby, typically used as the pressure sensor for diamond anvil cell. However, the full width at half maximum of the quantum wells is much higher than that for ruby. This reduces the available sensitivity gain exhibited by the InAsP-based quantum wells, but the improvement is still 2–3 times higher than that of ruby. Three InAsP multiple quantum well samples were examined, which exhibited luminescence at various wavelengths. The wavelength shift of these samples could be calibrated using similar parameters.