This error occurs when there are no devices created in the AVD manager. You can easily fix this issue by opening the android studio and creating a target(device) in the AVD manager. Select any of the available target devices, download install them in the same AVD manager window. Once this is done, you can either test your SDK directly in the android studio by selecting the debug option and then importing your apk which can be found at -
platforms\android\app\build\outputs\apk\debug\
or come back and run the following command again -
ionic cordova emulate android
But as per ionic, using Genymotion for emulation is a better option than native-run as it is too slow.