Innovation diffusion has received a great amount of attention by researchers throughout the years, yet there is a lack of studies examining this phenomenon in emerging markets and comparing the observed diffusion patterns to those in advanced markets. The aim of this Master Thesis is to address this research gap and determine whether the research field has developed in this regard in recent years. First the most relevant theories are summarized about innovation diffusion, then a computer aided content analysis is conducted with the data mining software, Leximancer. For this analysis a database of the most recent studies, published between 2011 and 2016, focusing on the diffusion of technology innovations in advanced and emerging markets is created, consisting of 93 studies. The studies are categorized based on the development level of the countries in focus, and all categories are analyzed separately with the software, resulting in statistical data and interactive concept maps. These display the most important keywords and topics identified in the studies as well as how these relate to each other, making it possible to determine the most recent research trends and the similarities and differences among advanced and emerging markets. The results show that there is a growing number of studies about emerging markets, which can be considered to be a development. However, researchers only seem to focus on the most innovative and developed advanced and emerging markets, thus there is little known about other countries. Furthermore, the studies are overwhelmingly case related, meaning that there is still a lack of knowledge about how innovations diffuse in these markets in general, and if the classic theories of innovation diffusion, which are based on studies conducted in advanced markets, can be applied to them. The findings also show that the diffusion of information and communication technology related innovations and innovations within the energy sector are examined the most often. However, while in the case of advanced markets this means the most recently developed technologies, in case of emerging markets more basic technologies, which have already diffused in advanced markets, are also receiving attention, reflecting the two faced nature of emerging markets. This, along with other findings of the analysis, indicates that while some emerging markets are undeniably catching up with advanced markets, diffusion in emerging markets is still significantly slower, and they continue to focus on imitation of advanced market technologies instead of domestic innovation. Despite some predictions, the results show that this trend will not change in the next decades.There are factors facilitating the diffusion of innovations, out of which some has improved in emerging markets (higher rate of urbanization, infrastructure), but others are only changing slowly, in particular the unstable political and legal environment, one of the most important influencers of innovation diffusion in countries.