The Short Answer
The router sends packets over every available connection, and a server in the cloud or a data centre reassembles them before passing them to the internet. Because all traffic exits from that server, the link also gets a single, stable public IP address, which helps with remote access and location-specific services.
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More bandwidth Several connections add up to more capacity than any one SIM.
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Reliability Fluctuating or dropped links do not break sessions.
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Network diversity SIMs on different carriers cover each other's gaps.
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Static IP Traffic leaves from the bonding server with one address.
Why It Matters
Our bonding vs load balancing FAQ explains the difference from ordinary multi-SIM routers. The bonded cellular router case study shows four bonded 4G connections on superyachts, and our industrial cellular computer guide covers the modems.