This chapter addresses the commercial side of evaluation. While evaluation as a field of practice has been viewed and described through many different lenses, few contributions have examined evaluation from a market perspective. This chapter does exactly that. Using Michael Porter’s five forces analytical framework, the chapter focuses on how evaluation commissioners and providers interact on the basis of contractual arrangements and how these dynamics affect the development of evaluation as a profession. On the basis of a Danish case study, the authors find that the Danish evaluation market is a relatively mature market, if imperfect, and characterized by significant buyer power due to a limited number of buyers and a limited number of contracts to compete for. The lopsided nature of the market is further aggravated by public procurement regulations and use of framework contracts. The Danish evaluation industry is quite heterogeneous with many different types of institutions offering their services. Over the past decade, competition has intensified and technologies and methodologies have evolved considerably.