To ease the operational burden of managing the configuration of your 
large-scale firewall deployments, the
                Panorama virtual appliance now supports management of up to 5,000 Palo Alto Networks
                Next-Generation Firewalls (NGFW) with a Panorama virtual appliance in Management
                Only mode. To use a single Panorama virtual appliance to manage up to 5,000
                Next-Generation firewalls you must 
install the Panorama virtual appliance in
                a supported private or public hypervisor with the 
minimum virtual resources required to
                support large-scale device management.