The aim of this work is to investigate and study the quantum effects in the modeling of nanoscale symmetric double-gate InAlAs/InGaAs/InP HEMT (High Electron Mobility Transistor). In order to do so, the carrier concentration in InGaAs channel at gate lengths ($L_g$) 100 nm and 50 nm, are modelled by a density gradient model or quantum moments model. The simulated results obtained from the quantum moments model are compared with the available experimental results to show the accuracy and also with a semi-classical model to show the need for quantum modeling. Quantum modeling shows major variation in electron concentration profiles and affects the device characteristics. The two triangular quantum wells predicted by the semi-classical model seem to vanish in the quantum model as bulk inversion takes place. The quantum effects thus become essential to incorporate in nanoscale heterostructure device modeling.