Preheat oven to 400°F. Mix olive oil, garlic powder, thyme, salt and pepper in small bowl. Set aside. Mix Parmesan cheese, panko and basil in another small bowl. Set aside.
Arrange carrots in single layer in 11x7-inch baking dish sprayed with no stick cooking spray. Brush carrots with some of the olive oil mixture. Layer with mushrooms and peas, brushing with olive oil mixture after each layer. Arrange asparagus on top in a diagonal pattern. Brush with remaining olive oil mixture. Top with bacon. Sprinkle panko mixture evenly on top of bacon.
Bake 35 minutes or until vegetables are tender and topping is golden brown. Let stand 5 minutes before serving.