I'm on the fence about Cam's HOF chances, but optimistic. Football reference does a "HOF Monitor" to calculate likely HOF chances, it's hardly perfect but it does provide a good comparison of resumes. There are 20 DEs in the HOF, only 2 are listed above Cam in their calculator who aren't currently in the HOF: L.C. Greenwood (who won't make the HOF) and JJ Watt (a lock).
Cam has good, not great, sack numbers for the Hall but if he plays one more year he should have about 125 for his career which is more than good enough. He doesn't have the All-Pros, DPOTYs, or rings to help which are important for voters, but he does have (as MB mentioned) the Pro Bowls, sack total, and All-Decade team. There is precedent in All-Decade players not making the HOF, Hardy Nickerson who coached at O'Dowd with me comes to mind, but it really depends on the competition in his years on the ballot. Jared Allen will already be in and it should be a couple years before guys like Calais Campbell & Myles Garrett hit the ballot who they have as his closest competition in terms of who will be on the ticket.
They also don't differentiate between SDEs and WDEs so even though he doesn't have quite the sack numbers as other HOFers his role was plugging up blockers and holding the edge while also dropping back into coverage more than them; as such, his passes defensed, TFLs, and overall tackles are higher than a good number of the guys ahead of him.
I'd say he's a near-lock, especially given his likely competition, but one ring or at least one more All-Pro would have absolutely cemented it. Maybe he gets released after week 18 and signs with the Lions and they win it all, that would be the dream