Induction heating systems are based on the effect of electromagnetic induction, which also gives the name to this type of heating system. In its most basic form, it comprises of a coil made out of a conductive material - metal being the most commonly used one - which heats up after an alternating electric current is run through an adjacent electromagnet. The result is that the electromagnet begins to heat up, transferring its heat to the coil. In most cases, the coil would be wound up into a spiral to maximize its contact surface, increasing the potential of the system and letting it generate more heat and be more efficient.
While induction heating is most commonly used in stoves for the purpose of cooking, it also finds applications in home heating systems. This is most often done by attaching a material which conducts heat easily to the coil, such as a metal rod run through the coil, which then provides heat to the devices placed around the home accordingly. Induction heating has some disadvantages though - even though it can provide large amounts of heat very quickly, it's not suitable for centralized systems where a single device heats up the entire household. This is because of the relatively quick dissipation of heat in the coil, preventing it from running over large distances.
Because of this, homes which use induction heating systems usually have a separate heating coil for each room, and they're all controlled separately. This can be very inconvenient for large households, as it creates the need to maintain and control a large number of heating units, as opposed to simply adjusting the heat from one centralized location - something which is possible in most other systems, such as water and steam-based ones.
On the other hand, induction heating can be very efficient for a consumer's budget, as it doesn't require much electric power to run for prolonged periods of time, and provides a quick and effective way to heat up a room. Speed is actually one of the primary advantages of these systems - a properly designed and well-maintained coil can heat up in a matter of minutes, making them ideal for quick adjustments and similar situations.
Induction heating systems are relatively unpopular, and they're primarily utilized in smaller households that can be heated up with a small number of devices - in larger houses, other systems are more common, such as the aforementioned water/steam heating systems. Apart from that, induction heating sees a lot of application in industrial environments - it's frequently used to heat up materials when working with them, and provides an easy and cheap method of doing so, which is very convenient for most manufacturing processes.
One thing to be noted about this type of heating system is that they require a bit of pre-planning before their installation, as it can be very tricky to accommodate a household for a complicated induction heating system.