I don’t know over what time period you’re asking, but in the last 20 years dac chips per say have not improved greatly since NOS dac chips like the TDA1541a Double Crown or BB-1704k.
Today manufacturers are doing everything they can to "get a leading edge" in technology - instead of focussing on music. Overall the dac chips gives very little to the complete sound. I would say the digital part in total would contribute no more than about 15% or so to the complete sound. The psu and analog stage, combined with pcb layout matters more.
So yes, dacs have progressed significantly in the last 20 years, but not because of breakthroughs in dac chip technology. That comes down mainly to better parts (eg: caps, chokes), boards, psu’s, improved manufacturing processes etc & the natural evolution of dac topologies over time.
Today manufacturers are doing everything they can to "get a leading edge" in technology - instead of focussing on music. Overall the dac chips gives very little to the complete sound. I would say the digital part in total would contribute no more than about 15% or so to the complete sound. The psu and analog stage, combined with pcb layout matters more.
So yes, dacs have progressed significantly in the last 20 years, but not because of breakthroughs in dac chip technology. That comes down mainly to better parts (eg: caps, chokes), boards, psu’s, improved manufacturing processes etc & the natural evolution of dac topologies over time.