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Whereas the development of ADAS seeks to improve driver's overall performance with a particular focus on traffic safety improvement; with it comes the requirement and opportunity to objectively evaluate the effectiveness of the technology in improving safety and overall road traffic efficiency. This study evaluates the effectiveness of ADAS in improving driver's risk perception in near-crash events using a novel metric from risk homeostasis theory (RHT) – Safety Margins, as an indicator. By designing a function that captures the initial and maximum risk-level of drivers when involved in a critical driving event while driving on a field operational test (FOT) route in Wuhan China; a comparison of the risk-level of drivers when ADAS was on as against when ADAS was off can be made, enabling an effective evaluation of the impact of ADAS on driver's risk perception and consequent risk mitigation. The results show that ADAS has a positive impact on the low-risk group and moderate-risk group for all drivers, but a negative impact on the high-risk group for skilled drivers. The impact evaluation is done under varying risk-levels of near-crash events with drivers of different driving experiences. [ABSTRACT FROM AUTHOR]