Hello @vivek338
There are many ways that I believe can help to you to improve. At first, lowering the frame rate can significantly reduce the file size.
Also you can use H.264 directly during capture instead of raw YUV. The wcap-decode tool outputs raw YUV4MPEG2 format, which is very large. Instead, use a tool that allows for more efficient encoding as ffmpeg.
I hope this information can helps to you.
Best regards,
Salas.