One of the biggest questions facing authors today is whether to go indie or pitch their work to a heritage publisher. In 2013, the Big Six (now the Big Five) commanded 89.6% of the titles in hardcover editions. That is a big chunk of the game.
Always remember that if your pitch to publishers fails, you can always self-publish. And nowadays, you can self-publish and still approach publishers with the same manuscript. So your options aren’t actually either-or. Nowadays, it’s a matter of how many paths you’ll take to publishing rather than which single path you’ll chose.