The beacon uses much less battery than GPS tracking , as it includes a Bluetooth Low Energy radio and a GPS receiver. Although I don’t have specific numbers, the GPS receiver is much more hungry.
The difference in power consumption between Ranging and Monitoring is a little muddy and differs from iOS and Android. In iOS, ranking is only allowed in the foreground, unless you have special background resolution (which you can only get if you have a navigation app). When this is done in the foreground, the range uses much less energy than the screen, so it is negligible.
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