how to calculate maximum possible number of segments for dot matrix display

Hi,

I'm developing dot matrix display, each segment have 8x8 LEDs, i want to know how can i calculate max possible number of segments to show smooth scrolling,

im using PIC16F877A mcu at 20MHz, for my basic test prototype, i used 8 segments and added 1 ms delay in loop.

I am not sure if there is such equation or calculation method available. Coz mostly it depends on type of hardware you use and kind of coding you've done.