I had the same issue and none of the other answers worked. It seems to occur frequently when you connect to the device using the wifi mode (running command 'adb tcpip 5555'). I found this solution, its sort of a workaround but it does work.
- Disconnect the usb (or turn off devices wifi if your connected over wifi)
- Close eclipse/other IDE
- Check your running programs for adb.exe (Task manager in Windows). If its running, Terminate it.
- Restart your android device
- After your device restarts, connect it via USB and run 'adb devices'. This should start the adb daemon. And you should see your device online again.
This process is a little lengthy but its the only one that has worked everytime for me.