How to improve performance of SPFx application?

Hello Everyone,

We have created SPFx + React application. We have used the SPFx 1.21.1 version.

We have used different npm packages into this project.

The project works as expected functionally. We have checked the performance of the application using Lighthouse in Google Chrome.

We found the below performance matrix from Lighthouse.

We need to improve the performance of our SPFx application. Can anyone suggest the correct path to achieve the same?

Thanks in Advance.