This paper employs the Web of Science core database and the visual knowledge mapping software CitesSpace to quantitatively evaluate the basic features and thematic hotspots of literature related to binary innovation from 2002 to 2023. This summary provides an overview of the research field and explores potential future research themes and directions. The study demonstrates that dual innovation has attracted the attention of a diverse range of researchers. However, the small number of highly productive authors are geographically dispersed, which has resulted in the inability to form a core research group. In terms of regional distribution, the countries with the highest output of results are China, the United States, and the United Kingdom. China has experienced a period of rapid growth in this field in recent years, becoming the country with the highest number of publications. (2) From the perspective of keywords, the research can be divided into three themes: the conceptual derivation of dual innovation, influencing factors, and the influencing role. (3) From the perspective of research evolution, a number of research hotspots have emerged successively and demonstrated sustained vitality as the research has deepened. Furthermore, in light of technological advancement and the growing complexity of external factors, there is a growing interest in how to select a dual innovation strategy in the context of economic policy uncertainty. Finally, this paper identifies the shortcomings of the research and suggests avenues for future investigation.