It is broadly accepted that the silicon-based CMOS has touched its scaling limits and alternative substrate materials are needed for future technology nodes. An Indium-Gallium-Arsenide ( I n G a A s )-based device is well situated for further technology nodes. This material also has better mobility of the electrons and holes for the high performance and real-time system design. The improved mobility helps to increase the operating frequency of the device which is useful for Internet of Things (IoT) applications. However, I n G a A s -based High Electron Mobility Transistors (HEMT) limits the reliability of the device due to the presence of dangling bonds at the channel–gate insulator interfaces. Weak dangling-bonds get broken under electric stress, and positive hydrogen atoms are trapped into the oxide. This charge trapping depends on the material parameters and device geometry. In this paper, the existing Bias-Temperature-Instability (BTI) model is modified based on the material parameters and device geometry. Charge trapping and annealing constants are the most critical BTI model parameters that are modeled and evaluated based on different HEMT material parameters. The proposed model was compared to experimental and TCAD simulation results. The proposed model has been used for lifetime prediction of the InGaAs HEMT-based Static Random-Access Memory (SRAM) cell because it is used to store and process the information in the IoT applications.