Chris Pang, principle research analyst at the firm, explained that 45 per cent of the companies surveyed reported that they will not be purchasing new CRM products this year, a figure that has increased by five per cent since 2008.
However, Gartner predicted that the industry could still see slight growth of about 0.7 per cent compared to 2009 and Mr Pang claimed the sector was not as harshly affected by the recession during the past 12 months as other types of software.
He commented: "With a slight improvement in CRM software revenues expected this year, respondents still remain cautious about their CRM investments."
In his view, one area where there is a growth opportunity is in CRM analytics.
This week, Gartner announced that its Business Process Management summit will take place at Caesars Palace in Las Vegas, from March 22nd to 24th.
