The Short Answer
Load balancing works well for many users browsing at once, because their sessions are shared out across the links. It falls short for anything that needs one fast, steady connection, such as streaming or video conferencing, because that session is at the mercy of whichever single SIM it lands on.
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Many light users Load balancing is simpler and needs no server.
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Streaming and video calls Bonding keeps a single session fast and stable.
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Moving platforms Bonding rides through the signal changes on vessels and vehicles.
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Failover only A dual-SIM router with failover may be enough.
Why It Matters
Our cellular bonding FAQ explains how bonding works, and our multi-SIM router FAQ covers the hardware. See the bonded cellular router case study.