The ICT industry is characterized by the globalization of innovation activities, modularization of product forms, and ubiquitous intelligence of technologies. In recent years, ICT has led to the strong development of the global digital economy. However, the global innovation model of ICT companies has been subject to inevitable shocks and questions, which has aroused widespread concern in practice and academia. There is an urgent need to systematically review and summarize the ICT industry innovation to contribute to the practice and research of ICT industry innovation. A combination of qualitative and quantitative methods, such as bibliometric analysis and multiple correspondence analysis, is used to summarize and analyze the literature on ICT industry innovation published in top journals at home and abroad. We systematically review the current research status of ICT industry innovation by portraying the knowledge map and structure, identifying research themes and development stages, and refining theoretical foundations and research topics. Based on the five themes of technological innovation, innovation ecology, digital transformation, business model innovation and sustainable development, the research framework and propositions are proposed, which are of guidance and reference value for future academic research and practice of ICT industry innovation.