INSTALL_FAILED_INSUFFICIENT_STORAGE Error Android Emulator

INSTALL_FAILED_INSUFFICIENT_STORAGE is a most common error that an Android Developer faces while trying to run an application on the Emulator.

To fix this issue:

1. Right Click on your Android Project Folder,
2. goto Run As -> Run Configurations
3. Select your Application at the left section
4. Move to Target Tab
5. In Additional Emulator Command Line Options add : -partition-size 2048
6. Apply the Changes are run the Emulator.