Today, Google announced that moving forward, it will only support 64-bit versions of Android Studio. The 32-bit version will be deprecated at the end of the year, and will be discontinued in 2020.

As for the Android Emulator, it will be deprecated on 32-bit systems with version 28.0.25 from June 30th, 2019. All support for that version will also end at the end of 2020.