SharePoint 2016 File Size limit
Another improvement brings SharePoint Server 2016 along with it. A long-awaited improvement, Yes, File Upload Limit has increased from maximum 2GB to 10GB.
SharePoint 2013:
In SharePoint 2013, the Default File Upload Limit is 250MB with a maximum 2GB (Configurable).
SharePoint 2016:
In SharePoint 2016, Default File Size limit is set at 2GB and can be increased up to 10GB. 10GB is a boundary and you can't go beyond it.
Note: Please keep in mind if you have too many files with the maximum size then you can see a performance issue on the farm.
Boundary:
Boundaries are absolute limits that cannot be exceeded by design. It is important to understand these limits to ensure that you do not make incorrect assumptions when you design your farm. An example of a boundary is the 10 gigabytes (GB) document size limit. You cannot configure SharePoint Server 2016 to store documents that are larger than 10 GB. This is a built-in absolute value and cannot be exceeded by design.
Changing the Limits:
The limits are Web Application level settings and will need to be set for each Web Application. The unit is "megabytes" and the default value for 2016 is 2047 MB.
Central Administration:
Application Management
Manage Web Applications
Click in the line for your web application (but not it's hyperlink)
In the ribbon click General Settings and General Settings
Enter a value for "Maximum upload size" in megabytes
Click OK.
PowerShell: (MaximumFileSize is in megabytes.)
$webapp = Get-SPWebApplication http://yourWebAppRootUrl
$webapp.MaximumFileSize = 500 # 500mb
$webapp.Update()