Marker information is stored in the header of the audio file. In order to be parsed successfully by the sound engine, the header must fit completely within the first streaming buffer. Thus, the maximum header size is equal to the streaming device's granularity. By default, the granularity is set to 16k. This value is used by the Wwise authoring tool. You may set the granularity in game when you instantiate the streaming device (AkDeviceSettings::uGranularity).
When the audio file header exceeds 16k (or the streaming granularity determined for your project), the audio fails to play.
To prevent overtaking the header memory, you can both reduce the number of markers per file and/or use shorter names for the markers since every character use a bit of memory.