Abstract:  In order to fully understand and further research value co-creation which is the research focus of the marketing management theory and practice, research subjects, development and research trend of value co-creation are analyzed, by taking related literature from Web of Science published between 2000 and 2019 as research objectives and by using the visualization tool, Citespace V It is found that the research topics can be divided into 13 categories, and the evolution process can be divided into three stages; the topics cover from the basic concept and logic of value co-creation, the dual perspective of enterprise and customer to the perspective of system, customer engagement, business network, brand value co-creation, customer experience, enterprise behavior and enterprise management, etc, and it has recently developed into the fields of high contact and public service Rethinking value co-creation from the perspectives of system especially ecosystem, quantitative analysis, service design, service quality and corporate social responsibility is the research trend

Key words: value co-creation, Citespace, visualization analysis, intellectual structures, frontiers