With the development of networks, an unprecedented volume of text is circulating around the world.

Literal

Network [possessive-の] development [with-で], unprecedented-degree large-volume [possessive-の] sentences [subject-が] world-throughout [object-を] racing-around.

ネットワークの発達 'development of networks.' かつてないほど 'to an unprecedented degree' — かつてない 'never before' + ほど 'to the extent of.' 駆け巡る 'to race around, to circulate rapidly' is a vivid compound verb. The sentence captures the information explosion of the internet age.