Innovation and industrial performance nexus: trends and insights from bibliometric evidence

Abstract This study aims to comprehensively explore the relationship between innovation and industrial performance by identifying prevailing global trends and evolving research themes. Specifically, it seeks to map the evolution of scholarly discourse, highlight key thematic shifts, and elucidate the connections between innovation practices and industrial performance outcomes. Employing a bibliometric methodology, the study systematically analyzes 2712 peer-reviewed journal articles retrieved from the Scopus database, focusing on the business, management, accounting, economics, econometrics, and finance domains. The methodological approach includes detailed bibliometric analyses, such as word frequency analysis, co-occurrence network analysis, and thematic evolution mapping, utilizing advanced tools, such as RStudio and the Bibliometrix R package. The findings reveal a clear temporal evolution of research focus, transitioning from initial foundational competitive strategies toward recent emphases on sustainability, green innovation, and Industry 4.0. This progression mirrors broader economic, technological, and environmental developments globally. The study concludes that contemporary innovation strategies are deeply intertwined with sustainability, highlighting a critical alignment between economic growth and environmental stewardship. Additionally, the results emphasize the growing importance of digital technologies in shaping industrial competitiveness. These insights provide valuable directions for future research, advocating for increased interdisciplinary and cross-sectoral studies, particularly focusing on sustainability integration and digital transformation. Practically, the findings underscore the imperative for firms to strategically adopt sustainability-oriented innovation and Industry 4.0 technologies to maintain competitive advantage and effectively address evolving global market challenges.