increase PermGen size in standalone.conf / standalone.conf.bat if you are running in standalone mode.
And failure like this would mean you are trying to deploy really really really big deployment. 100mb+ maybe?
It might be wise if you could trim your deployment, maybe remove some redundant jars etc...
But as I said increasing permGen would solve your issue.
Thanks. Shall I increase the PermGen as below ?
-Xms256m -Xmx256m -XX:MaxPermSize=256m
That is a good start, but it really depends on your application, you might need to increase even further if it does not work.