Megapixels, Gigapixels, phooey is what I have to say about that. Researchers at Rice University are developing a single-pixel camera that will compensate for inefficiencies of the current digital cameras. I'm still pretty confused how the damn thing actually works, but it is supposedly similar to that of a pin-hole camera and as big as a suitcase. It is more efficient because it eliminates the need for fancy microprocessors or large capacity batteries.
As the light passes through the device, the millions of tiny mirrors are turned on and off at random in rapid succession. Complex mathematics then interprets the signals assembling a high resolution image from the thousands of sequential single-pixel snapshots.
Hit the BBC link below for more complex explanations. Basically, if this technology or type of camera ever hits the market it will significantly improve battery life and eliminate the need to process and compress each image, I think.