<p>Innovation Dynamics is a complex concept in innovation studies, with diverse interpretations. This paper addresses the fragmented literature through a systematic literature review, synthesizing existing definitions and developing a two-dimensional typology. The typology categorizes definitions by the “levels of change” and the “subject of change,” distinguishing Innovation Dynamics from related concepts such as innovation trajectories, processes, and systems. It organizes current knowledge, identifies gaps, and provides guidance for future research. Additionally, a refined definition of Innovation Dynamics is proposed, enhancing conceptual clarity and providing practical and theoretical utility for understanding innovation evolution and interactions across actors, processes, and contexts.</p>