This paper delves into the analysis of shear wave propagation with a sandwiched structure comprising a piezoelectric layer and an elastic layer, with a transversely isotropic layer in between. The frequency equation has been derived following Biot’s theory. The dimensionless phase velocities numerical values are computed and visually depicted to demonstrate their dependencies on anisotropy, piezoelectricity, initial stress and porosity in a comparative manner. The explicit demonstration of the relationship between each parameter and the geometry has been presented. The observation shows that as porosity in the medium increases, the phase velocity also increases. Furthermore, the existence of medium anisotropy results in a decrease in the phase velocity of shear waves. Moreover, a correlation is observed where higher tensile initial stress within the medium leads to a corresponding reduction in the phase velocity of shear waves. We conclude that considered parameters (viz. piezoelectricity, anisotropy, porosity, initial stress and thickness of layers) affect the velocity profile of the shear waves significantly. This study holds practical significance in the development of innovative-layered composites, surface acoustic wave (SAW) devices and sensors utilizing intelligent piezoelectric devices for engineering purposes.