By default, all course spaces are configured to 500 MB. To follow best practices for storing content in Canvas, it is recommended to use the available integrations such as Panopto for Videos or Office 365 for documents, power points, etc.
If you reach the 500 MB limit and cannot use the integrations, please contact Academic Outreach and Innovation (AOI) at email@example.com. to initiate a request for more space.
Please review this document for more detail on Canvas Storage limitations.