on the short term, you will have unclean combustion in the engine will result into increase in the emissions, while in the long term, it decrease your fuel economy and might damage the engine's cylinder. any sensor when get exposed to abnormal conditions, it will decrease its lifespan.
Mohammed, you can use calculations for pressure transducer lifespan, since both have piezo electric crystalline, but you need to use the knock sensor specs, (sensitivity, working voltage range) from the data sheet instead of the pressure traducer properties.