Digitalization and internationalization have an important role in the growth of enterprises, especially small and medium enterprises (SMEs). Despite considerable attention to this topic in the literature, there is a need to synthesize and categorize diverse contributions to obtain a deeper understanding of how digitalization and internationalization have developed. This article aims to provide a holistic picture of the topic as a basis for future research and debate. A bibliometric analysis technique was used to analyse 246 publications in IB research to present a contextual picture of digitalization and a subsequent front analysis was conducted to supplement these findings. The way in which literature has evolved is divided into five phases: initiation, IT boom, turbulence, international relations, and evolution. Four major clusters were identified as: competitive advantage; business growth and market expansion; evolution and innovation; and theory building through case studies & research. Perspectives for future research are also provided.