I am trying to launch my app on device. It is launching successfully on the simulator.
Make sure the Provisioning Profile setting in your environment is set to your development profile: Project > Build Settings > Code Signing
Consider setting it in your Target settings and the Pod project (in case using Cocoa Pods).
In case the development profile is not present create or download it: Certificates, Identifiers & Profiles > Provisioning Profiles
If your goal is to just launch the app and debug it, you can also edit the schema to "Wait for executable to be launched" and run the app manually. The setting is under Edit schema > Run > Info > Launch. Choose "Wait for executable to be launched" instead of "Automatically". It will wait for you to run the app (by manually tapping it) instead of timing out.
I got the same problem and after looking at the answers here I found mine. The issue at hand was: my dev distribution certificate was gone from iOS Dev Center, so I just assume it had timed out. I didn't get a nice warning though, just the above error - installing worked but debugging didn't. So I had Xcode regenerate a new one for me.
I literally restarted my iPad, that was connected for testing the app, and that resolved the issue.